The Wyckoff Wave Like A Broken Record – Still Sideways

Todd Butterfield Week In Review 0 Comments

The Wyckoff Wave once again closed down ever so slightly for the week.  Volume was slightly higher after the holidays.

The O-P was down slightly for the week.

The Force Index was up slightly.

The Technometer is now slightly below neutral.

 

The OP is slightly weaker than the Wyckoff Wave.

 

The Wyckoff Wave once again had no real movement for the week.  We had expected it to work lower, but Friday’s selloff was the first sign of this.

The Technometer spent the week around neutral and finished the week there.  As you can see from the chart below, the OP has trailed the market for the last couple months.  It would appear there has been no buying to support the rally.

We are going to expect lower prices in the weeks ahead, and a possible return to the middle of the trading range.

 

The Wyckoff Wave Growth Index (WWG) traded higher for the week once again.  The WWG has significantly outperformed the Wyckoff Wave.

The Technometer is still near overbought levels, and we would expect a correction.  You can see here, the OP has supported the recent rally.

 

The SPY finished the week higher as well.

We had expected the SPY to turn lower last week, and it tried on the overseas news, but buying came in to support prices.  We took a slight loss on our short SPY position for ProTraders.  We still think this market will trade lower from here.  You can see the SPY has rallied while the OP has a negative divergence.

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The bond market was down for the week.

We had expected some strength here, which we got late in the week, after the early week selloff.  Thus far, it appears we keep testing the support level and the previous spring low.  This market has not given us the buy signal we want, but we would expect further strength here.

 

The GDX finished the week lower.

We had been long the metals markets, and took 3% gains last week.  We would expect slightly higher prices this week, but for now we are going to stay on the sidelines until the picture clears up for us.

 

The long dollar ETF, UUP was up nicely for the week.  We expect more range type trading.

 

 

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 an active Discord channel where we discuss the Crypto markets.  We have had huge success and if you trade Bitcoin you might like monthly 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 1005 students enroll since its launch on June 22, 2017.   On June 28th, 2018 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 Cryptocurrency, 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.  

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Good Trading,

Todd Butterfield

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