The Wyckoff Wave In The Range

Todd Butterfield Week In Review 0 Comments

The Wyckoff Wave was up slightly for the week.  Volume still at slightly below normal levels.

The O-P was also up slightly for the week.

The Force Index was flat for the week.

The Technometer is quickly back to neutral.

 

The OP and Wave are trading in unison.

 

The Wyckoff Wave rallied slightly last week, but we had expected a start of a correction.

With the Technometer now at neutral levels we will be looking for an oversold reading on any selloff in stocks this week.

 

The Wyckoff Wave Growth Index (WWG) traded sharply lower for the week in line with our forecast.  We are now nearing oversold levels so we would expect some support to enter early in the week.  Looks like a healthy correction thus far, so could look to enter long positions in this area of the market.

 

The bond market traded higher for the week.

The Technometer is back to a near overbought reading, so this rally could stall here as well.  We had expected a 50% recovery of the previous decline, and it stopped just near that.  We could be looking to stand aside here once again, until we get another oversold reading on the Technometer.

 

The GDX closed sharply higher for the week and continuing to extend its gains.  The Technometer continues favorable so this market could make further gains this week.  We could be coming into our first objective levels on this rally, so be prepared to take some profits.

 

The long dollar ETF, UUP traded higher for the week.  We will watch this one closely for further weakness.

IMPORTANT ANNOUNCEMENT:  Our “Pulse of The Market” charting software for Cryptocurrrencies is now working.  This software has consolidated volume for the Crypto’s which is utmost important when applying Wyckoff Technical Analysis.   We are showing this software in use on our social media sites. 

We have recently started a Discord channel where we discuss the Crypto markets.  We have had huge success and if you trade Bitcoin you might like monthy access at $40 a month.  https://www.patreon.com/LearnCrypto

Due to the demand for Bitcoin/Cryptocurrency information and trading knowledge, we released a Cryptocurrency and Wyckoff Trading Course at our site, LearnCrypto.io   This course is being offered at an affordable $299.99.  We have had 960 students enroll since its launch on June 22, 2017.   On June 28th we added lessons detailing the OP, Force, and Technometer and how to use these Wyckoff Tools for analysis.

If you are interested in Wyckoff stock chart analysis as well as Crptocurrency, search “Learn Crypto / Wyckoff SMI” or click this link https://www.youtube.com/channel/UCDxK2PwEDvoaHZgjPV_WgcA

Please subscribe and click the bell to be notified of our upcoming broadcasts.  

Our current schedule is Monday-Thursday approximately 6:30 p.m. CST, and they usually last approximately one hour.  We will also broadcast at additional random times since we want to satisfy our international subscribers as well.  

If you would also like to follow us on twitter for news and trade ideas, follow “LearnCryptoShow”, or “WyckoffonCrypto”.   We have given numerous profitable trades to our subscribers on the Youtube channel, as well as Twitter.  

Good Trading,

Todd Butterfield

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