The Wyckoff Wave Looks Neutral Here.

The Wyckoff Wave finished the week flat, on low holiday volume.

Our Technometer was near overbought, now back at neutral, so this week could go either way.   We will wait for a more clear oversold/overbought reading before entering positions.

Last week was a light volume pullback, so could see some strength this week.

The Technometer is neutral at 43.3.  


The OP  is weaker then the Wave, which shows some strength in the Wave.   If OP turns higher this week, Wave could rally. 


WWN – The Wyckoff Wave New Index also closed slightly lower on low volume. 

Here as well the Technometer is near overbought, and any rally this week, will get us to overbought.  Let’s wait for a rally and then decide next course of action. 

Currently the Technometer is near overbought at 47.3. 


The Wyckoff Wave Growth Index closed slightly lower last week, on average volume.  

We was near oversold here due to the persistent weakness in the price of growth stocks.  With our other index’s neutral/near overbought, we will not recommend buying growth stocks at this time.  

Currently the Techometer is neutral at 43.7.  


The SPY was near unchanged for the week, on low holiday volume. 

A little higher this week, and we could get near overbought.  Let’s observe this week’s action before entering any positions. 

The Technometer is neutral at 45.0.


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The bond market was down for the week on low volume.

The Technometer  was near oversold, but no bounce last week.    We still look for an attempt to rally this week.  

The Technometer is near oversold at 40.7.


The Wyckoff Wave Metal Index was slightly lower, on extremely low volume.

We was expecting some backing and filling, and this week we could see more of that.    A more clearly oversold Technometer and we would try the upside again. 

The Technometer is just below neutral at 42.7.


The long dollar ETF, UUP was down for the week, on low volume.

We was looking for higher last week, and are still looking for that.   Our Technometer is oversold, and we still have a new low in the volume (OP), while price is flat.   Let’s look for higher in the week ahead. 

The Technometer is oversold with a reading of 38.6.


Bitcoin also has been down slightly for the past week, on low volume. 

Our Technometer is neutral, so lets look for Bitcoin to continue higher this week before looking for a short term correction.       

Our Technometer for Bitcoin is neutral at 45.1. 



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Todd Butterfield

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