The Wyckoff Wave Rolling Over, Or Just Resting?

Todd Butterfield Week In Review 0 Comments

The Wyckoff Wave was down slighty for the week.  Volume was at average levels.

The O-P was also down for the week.

The Force Index was flat for the week.

The Technometer is sitting at neutral.

 

The OP and Wyckoff Wave is trading in unison.

 

The Wyckoff Wave was up for the week until Friday’s lower trade, which took us slightly minus.

Technometer is still neutral and no glaring divergences between price/OP, so it appears we can still work higher from here, after a further slight pullback.

 

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

Technometer was near overbought on Thursdays upthrust.   We have now fallen back in to the short term trading area but volume was not excessive.   We will look for a pullback to the purple uptrend line at worst, or spring the low at 5,022 from two weeks ago.

 

The SPY finished the week basically unchanged.  The purple uptrend has given away to now more sideways action.

Technometer is below neutral and should get near oversold quickly on any further selloff.

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 is now back to neutral after not much fall in price after our sell of the overbought Technometer at the red arrow.

This market can not make up its mind, and therefore has just been trading sideways in a narrow range.  We will have to watch for the next low risk opportunity.

 

The GDX finished the week slightly lower after Fridays recovery limited the weeks losses.

We are still overbought on the Technometer, and the uptrend was broken with the late week selloff.

We have been bearish on these markets intermediate term, and still in that camp.

We want to be short but will monitor in days ahead for most opportune time/price to enter.

 

The junior miners was close to oversold on the Technometer Wednesday and now back to neutral.  We will observe for shorting opportunity.

 

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

We wanted to see some more testing on the downside for our backup, which continues to happen.  Our Technometer is nearing overbought so we see no opportunities here as of now.

 

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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