The Wyckoff Wave Now Overbought, Sideways To Lower.

The Wyckoff Wave finished the week strong, on average volume.

We had been wanting a pullback and an oversold Technometer to buy.  Instead, we have now rallied to resistance and an overbought Technometer.  We would expect sideways to lower this week. 

The Technometer is overbought at 49.71.  


The OP/Wave are moving in lock step.


WWN – The Wyckoff Wave New Index was also nicely higher, on average volume.

We are also now overbought here, so we look for a correction of the recent advance. 

Currently the Technometer is near overbought at 53.1. 


The Wyckoff Wave Growth Index continued higher for the week, on average volume.

We would expect to see sideways/lower here this week. 

Currently the Techometer is overbought at 51.8.  


The SPY also rallied strongly last week, on lower volume.

We would look for a pullback here as well, to correct the recent advance..      

The Technometer is overbought at 53.8.


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The bond market as shown by the TLT, traded higher last week, on lower volume.

The Technometer did quickly come down to oversold last Thursday, so we look for higher this week.  It appears we could be completing a triangle formation and headed to new recovery highs above 109. 

The Technometer is oversold at 39.0.


The Wyckoff Wave Metal Index continued higher, on low volume.

We was expecting sideways to higher here, so lets continue to look for that.  

The Technometer is just above neutral at 46.2.


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

We look for the Dollar to continue lower, after a little higher this week. 

The Technometer is near oversold at 40.8.


Bitcoin continues sideways in a narrow range, on low volume.  

The Technometer is neutral so not much to add.  We are flat trading positions, and was looking for slightly lower to repurchase.       

Our Technometer for Bitcoin is neutral at 43.7. 


Ethereum has also traded sideways to slightly higher, on lower volume. 

We are flat, and looking for lower to repurchase.  

Technometer is neutral at 44.7.

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Todd Butterfield

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