The Wyckoff Wave Nearing The Bottom Of The Range As Expected

The Wyckoff Wave was down for the week on average volume.
The O-P was also down for the week.
The Force Index was down slightly for the week.

The Technometer was registered an oversold reading on Friday.

The Wave and OP both hit new lows at the end of the week, so somewhat moving in lockstep.

 
The Wyckoff Wave has finally made its way to near the bottom of its trading range that we have been calling for in many weeks.  We had expected a move to 47,000 and we are close to achieving that.  We had said all along that we needed more sideways trading action before starting another move to the upside.
With the Technometer now reaching oversold, we would expect the 47,000 support level to be tested and hold.  We would be looking for stocks stronger than the Wave for purchase.  We are called 150 points lower currently for the DJIA Monday morning.

 
The Wyckoff Wave Growth Index (WWG) traded heavy for the week as expected, and looking for slightly more downside here.

 
The bond market exploded higher in exact action as we had called for.
The Technometer is dangerously overbought, and we would take this recent rally, and probably nice plus opening in the morning, to book large profits!

 
The GDX also had big gains late in the week, which helped our long positions.  We had expected a strong move through $21, and got just that.
Stay long and we will be raising sell stops soon..

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.
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 949 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