The Wyckoff Wave Preparing For A Correction Soon?

Todd Butterfield Week In Review 0 Comments

The Wyckoff Wave was up slightly for the week.  Volume was at average levels.

The O-P was also up slightly for the week.

The Force Index was flat for the week.

The Technometer is sitting at neutral/overbought.

 

The OP and Wyckoff Wave are trading in unison.

 

The Wyckoff Wave was up for the week after Monday’s gap lower.  It traded in a narrow range for the week.

Technometer is trending to overbought.  Any further rally this week should get us to the overbought reading we have been waiting on.

The OP made a new high for the last 8 trading sessions while the WW is lagging, so first sign we could be nearing trouble for continued upside.

 

The Wyckoff Wave Growth Index (WWG) was also up for the week.

The Technometer is nearing overbought so it appears this market will slow up here as well to the upside.

 

The SPY finished the week higher and near its recovery high from the virus lows.

Technometer is neutral/overbought and also will get to overbought on further rally.

If you want more current up to the minute updates, please join our ProTraders/Private Discord.  We are still long a few individual stocks here.  Join Here

 

The bond market closed lower for the week.

Our Technometer registered clearly overbought on Thursday, and price action still looks lower here.

 

The GDX finished the week higher once again with a relentless rally the last two months.

The Technometer has came back to neutral, and we have stayed on the sidelines.

 

 

Not much to add here, as mirrors the GDX.

 

The long dollar ETF, UUP was up for the week.

This market has gone no where for weeks.  We are wanting to enter a long here and we have a nearly oversold Technometer.  We will watch closely early in the week.

 

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. 

We have an active Discord channel where we discuss the Crypto markets.  We have had huge success and if you trade Bitcoin you might like monthly access at $40 a month.  https://www.patreon.com/LearnCrypto

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 1016 students enroll since its launch on June 22, 2017.   On June 28th, 2018 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 Cryptocurrency, search “Learn Crypto / Wyckoff SMI” or click this link https://www.youtube.com/channel/UCDxK2PwEDvoaHZgjPV_WgcA

Please subscribe and click the bell to be notified of our upcoming broadcasts.  

Our current schedule is Monday-Thursday approximately 6:30 p.m. CST, and they usually last approximately one hour.  We will also broadcast at additional random times since we want to satisfy our international subscribers as well.  

If you would also like to follow us on twitter for news and trade ideas, follow “WyckoffonStocks”, “LearnCryptoShow”, or “WyckoffonCrypto”.   We have given numerous profitable trades to our subscribers on the Youtube channel, as well as Twitter.  

Good Trading,

Todd Butterfield

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