The Wyckoff Wave Rallied Away From The Danger Zone

Todd Butterfield Week In Review 0 Comments

ANNOUNCMENT:   We have had major success in Bitcoin and Cryptocurrencies the last few years, so we have spent alot of analysis on these markets.  For those of you with no interest in Bitcoin, we have started a new Twitter where we will discuss just the stock, bond, and metal markets.  Give us a follow at https://twitter.com/wyckoffonstocks if you have an interest.   Also with our success of our Crypto Discord, we are entertaining the idea of starting one strictly for stocks as well.  We will keep you updated…

 

The Wyckoff Wave ended the week nicely higher, after a successful test of the spring.  Volume was slightly lower for the week before Labor Day.

The O-P was up slightly for the week.

The Force Index was also up slightly for the week.a

The Technometer was oversold last week, now back to neutral.

 

The Wyckoff Wave is slightly stronger than the OP.

 

The Wyckoff Wave traded higher for the week as expected.

We wanted to see the Wyckoff Wave put in a successful test of the Spring, and we did just that.   We then spent the rest of the week rallying away from the support zone.

The Technometer is registering neutral, so we have plenty of room to extend last weeks rally into this week.   Let’s look for continued strength until our Technometer gets closer to an overbought reading.  We need to see some volume to come into the upside if this rally is going to be the real deal.

 

 

The Wyckoff Wave Growth Index (WWG) once again traded higher for the week.

We had an oversold Technometer here as well to begin the week, and it also is now back to neutral.   Lets look for the WWG to continue higher as we expect for the Wyckoff Wave.

 

The SPY had a strong rally for the week as expected.

Here as well we have a neutral Technometer, so we would expect continued rally attempts.

 

The bond market traded slightly higher for the week.

We had expected some selling to come into the TLT this week, in contrast to the rally in stocks.   This did not happen, and the Technometer was overbought, now it is near oversold.

If stocks do rally this week, we would like to see bonds pullback and give us nice buy entry.  We will watch from the sidelines.

 

The GDX was up ever so  slightly for the week.   We was expecting a pullback here as well but it did not happen.   We went from an overbought Technometer to now an oversold one.   This market appears like it still wants to work higher some more.

 

The long dollar ETF, UUP traded higher for the week to a new high for the move.   This market has been relentless to the upside.   It is now breaking out to the upside, and has an oversold Technometer so it appears it has further to go to the upside.

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 recently started a Discord channel where we discuss the Crypto markets.  We have had huge success and if you trade Bitcoin you might like monthy 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 960 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

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 “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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