The Wyckoff Wave Like A Broken Record – Sideways

The Wyckoff Wave closed down ever so slightly for the week.  Volume was low in holiday trading.
The O-P was up slightly for the week.
The Force Index was up as well.
The Technometer is now slightly above neutral.

 

The OP is performing in lockstep with the Wyckoff Wave.

 
The Wyckoff Wave had no movement for the week.  We had expected it to work lower in sympathy with the WWG, but both spent the week moving sideways.
The Technometer spent all week at oversold levels, but came off of it quickly to now above neutral.   For being oversold for so long, and no net gains in the Wyckoff Wave…. is not good for the immediate future I believe.   I would expect lower prices.

 
The Wyckoff Wave Growth Index (WWG) traded slighlty higher for the week once again.
The Technometer is still near overbought levels, and we would expect further correction.

 
The SPY finished the week slightly lower, as expected.
The Technometer reached overbought on Thursday, and we used it as an opportunity to get short for our ProTraders.   We show below a divergence between the Price/OP, and with the overbought Technometer we expect lower prices this coming week.
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The bond market rallied strongly for the week.
The Technometer on Thursday got close to oversold again, on what looked like a final test of the earlier spring.  With stocks turning down, this market got strongly bid.  We would expect further strength here.

 
The GDX finished the week higher again, in line with our expectations.
We expected the overbought Technometer to slow the rally which it did this week.  It went from an extreme overbought reading of 65, to a now current 52.  We would like to see a little more relief closer to 44, then we might want to add to long positions here.  We have raised protective sell stops on current longs.

 
The long dollar ETF, UUP was flat for the week.
We look now still range bound after Tuesday’s spring.  We will monitor this market.

 
ULTA was down for the week.  We are monitoring this issue for a possible buy after our recent successful trade.  For now stand aside.

 
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 990 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
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Good Trading,

Todd Butterfield