The Wyckoff Wave Rallied As Expected

The Wyckoff Wave rallied off oversold levels as expected last week.  Volume was also higher for the week.
The O-P was slightly lower for the week.
The Force Index was also lower for the week.

The Technometer is trading slightly below neutral.

We had expected a rally this past week and got one.  The OP did not respond as well as we would have liked for the bull argument.

 
The one year daily chart shows the Wyckoff Wave breaking its longer term uptrend and heading straight to the bottom of the recent trading range.  More importantly it left behind an upthrust and is trading extremely weak.  On a positive note, it did spring the trading range last week and thus far has rallied back into the trading range.
With the technometer still trading near oversold we would expect further rally attempts from here.

 
The Wyckoff Wave Growth Index (WWG), also rallied slightly for the week.  We had recommending covering shorts on the oversold Technometer, and still expect this market to bounce higher from  here.  Then we will have to see the correct action at that time.

 
The bond market traded sharply lower for the week.  The Technometer was extremely overbought last week, and now back to below neutral.
Our recommended short sell on last weeks update was perfect.  We would now lower buy stops to lock in a profit, and look to probably cover shorts on an oversold reading on the technometer.

 
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 945 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