The Wyckoff Wave Meeting Resistance at Overbought Line of Uptrend

Do not continue to miss out on the extraordinary opportunities that present themselves in the Cryptocurrency Markets.  We have tried to get as many Wyckoff students over to this exciting area as possible. 

This past week the Wyckoff Wave experienced a week of nice gains.  Volume picked up after last week’s holiday trading.

The Technometer is now trading at an overbought level.

For the week the S&P was up 1.4%, and the Nasdaq down .62%.

The Wave spent the entire week rallying until Friday’s weakness during a day of extreme volatility.  We tested the resistance of the uptrend’s overbought line and reacted sharply Friday.

The Force Index was up for the week as well.

The Technometer began the week with a neutral reading, but finished the week in a very much overbought level.
 

 
The one year Daily chart shows the Wyckoff Wave still in the upper portion of the recent uptrend channel after reacting back into the channel Friday.
 

 
The Wyckoff Wave Growth Index (WWG) experienced a sharp selloff on Wednesday which brought it once again down to the support line of the recent uptrend.  Volume was heavy on Wednesday and might be showing us a change of character.
The Technometer has returned to slightly below neutral so we could get a bounce at the support line of the uptrend, or the previous resistance line marked in light blue.
 

 
The bond market ended the week with a sharp rally on Friday, after experiencing weakness for the previous four days.  The Technometer is nearing oversold so we are short and hoping to see more action to clarify the situation.
 

 
IMPORTANT ANNOUNCEMENT:  We will be launching our “Pulse of The Market” for Cryptocurrrencies very shortly.  This software will have consolidated volume for the Crypto’s which will be most important when applying Technical Analysis.
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 offered at an affordable $299.99 and we have had 727 new students enroll in the last 22 weeks.   
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Good Trading,

Todd Butterfield