The Wyckoff Wave Searching For A Low

Todd Butterfield Week In Review 0 Comments

The Wyckoff Wave closed down sharply for the week once again.  Volume was slightly higher than the previous week.

The O-P was up for the week.

The Force Index was down slightly for the week.

The Technometer is still slightly below neutral.

 

The OP is trading stronger than the Wyckoff Wave and was up slightly for the week.

 

The Wyckoff Wave experienced more selling and closed new the lows of the week.

Our Technometer was at neutral levels coming into last week, and we are still at neutral levels.  As you can see by the above WW/OP Intraday 5 minute chart, the OP closed higher for the week, which shows that there was more buying than selling last week, which is not conducive to putting in a lasting low or a selling climax.

It would appear we can still probe for lower lows this week.

 

The Wyckoff Wave Growth Index (WWG) traded lower as well but outperformed slightly.

With a Technometer at 48, it once again appears we can probe for lower levels this week, before finding a sustainable low.

 

The SPY finished the week sharply lower.

The Technometer is trading slightly below neutral here as well, and our other indicators have not given us the support we need to call a low.

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 higher for the week, with extreme volatility.

Our Technometer was near oversold levels, which helped last weeks rally late in the week.  We would expect a further rally to get the Technometer to overbought levels, then we would feel comfortable entering short positions.

 

The GDX finished the week slightly higher, with extreme volatility here as well.

Our Technometer is now oversold so we would be looking for a further rally to relieve the oversold reading.  It would appear to be only a rally back to the creek at $26.

 

The long dollar ETF, UUP was up sharply for the week, after Monday’s gap lower.

We do not have an opinion here as our Technometer is now oversold, so it would appear that we had a jump and needing a backup.  But the backup would look better if we would spend a few more days testing lower levels.

 

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 1015 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

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.