The Wyckoff Wave Needs A Little Lower Before A Low Is Reached.

The Wyckoff Wave finished the week lower as expected, on slightly higher volume.

We had a neutral Technometer last week so we was wanting lower prices this week to get us closer to oversold once again.

We did have volatility/selling come in, but our Technometer is still just neutral.   Let’s look for that to get closer to oversold before we step in to buy. 

The Technometer is currently at 43.9. 


The Wave and OP are trading in unison.


WWN – The Wyckoff Wave New Index closed lower as well, on an increase in volume.  

We was wanting lower last week and an oversold Technometer.   We are now oversold and we feel this index can turn higher from here. 

This index has TESLA as a component and that stock is also close to oversold once again. 

Currently the Technometer is oversold at 37.4.


The Wyckoff Wave Growth Index closed lower last week, on a steady increase in volume.  

We are close to oversold on this index, and would like to see price action a little lower early in the week, to get us clearly oversold.  We are also back to near previous support which we could “spring”.

Currently the Techometer is near neutral/oversold at 41.7. 


The SPY was sharply lower to end the week, on an increase in volume.

We was wanting sideways to lower last week, and the Technometer to get back to oversold.   

We did move lower but our Technometer is still not oversold.   Let’s look for still lower early in the week, to get us closer to oversold and a sign to reenter longs. 

The Technometer is near neutral/oversold at 42.0.


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The bond market was up slightly for the week on average volume.

The Technometer was neutral last week, and still at that level.  We would like to see it closer to oversold, but this ETF has strong price action and looks like it wants to go still higher.

The Technometer is near neutral at 46.6.


The Wyckoff Wave Metal Index was down slightly on average volume.

We are expecting this market to find support soon and turn higher once again.  

The Technometer is near neutral at 46.7.

The long dollar ETF, UUP was down slightly, on a slight increase in volume.

We was expecting a little higher short term, and then a return to lower.   We have an oversold Technometer so lets look for still higher from here.   

The Technometer is clearly oversold with a reading of 35.7.


Bitcoin was lower for the week, after a nice rally mid week.  Volume continues low.  

We was wanting a little lower in Bitcoin before an oversold Technometer and a turn higher.   

Our attached chart is from Bitfinex as we are experiencing an issue with our software this evening.   Our usual chart is BTC/USD consolidated but that Technometer is also nearing oversold.  So we expect Bitcoin to find another short term bottom early in the week. 

Our Technometer for Bitcoin Bitfinex is oversold at 35.5. 



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Todd Butterfield

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