The Wyckoff Wave Should Continue Last Week’s Recovery.

The Wyckoff Wave finished the week higher as expected, on average low volume.

Last week, we was wanting a slight correction to get our Technometer closer to oversold, but it did not happen.   

The rally we expected last week did materialize and looks like we will see more of the same in the coming week.

The Technometer is neutral/overbought at 47.7.  


The OP/Wave are moving in lock step to the upside.


WWN – The Wyckoff Wave New Index also closed higher, on continued low volume. 

We expected a rally last week which we got.  The problem is our Technometer is near overbought so it seems the upside is limited until that improves. 

Let’s see the price action early in the week.

Currently the Technometer is almost overbought at 49.7. 


The Wyckoff Wave Growth Index was slightly higher for the week, on lower volume.  

No change here either, as the Technometer is sitting around neutral, and will get to overbought probably on a rally this week.     

Let’s look for higher early in the week. 

Currently the Techometer is neutral/overbought at 46.6.  


The SPY rallied nicely to end the week higher, on average volume.

The Technometer here never could register oversold, as no strong sell volume came in to the downside.

It looks like we can continue the rally this coming week in the SPY as well.       

The Technometer is neutral at 45.6.


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The bond market rallied sharply on Friday, to take the TLT plus for the week.  We did see an increase in volume on the two day recovery.  Once again we are overbought on the Tech so it would appear the rally has limited upside for now.  

The Technometer is overbought at 54.2.


The Wyckoff Wave Metal Index rallied all week on very low volume. 

Our Technometer still is giving us no help here, so we will stay on the sidelines.

We expect still higher, as the Dollar looks lower this week.

The Technometer is neutral at 45.2.


The long dollar ETF, UUP was lower for the week as expected, on average low volume.

We look for the Dollar to work lower in the week ahead.

The Technometer is at 43.1.


Our Wyckoff Wave Crypto Index (WWCI), worked higher early in the week off our BUY signal, but feel sharply to end the week.

Once again, you can see the near oversold Technometer as well as the bullish divergence as marked in blue with the OP and price.


Bitcoin also experienced a selloff late in the week, on extremely low volume.  

We were stopped out at $22,800, for 5.8% gains.

Once again, we are close to  oversold on Bitcoin, so we are looking to reenter long positions early in the week.       

Our Technometer for Bitcoin is near oversold at 38.6. 


Ethereum also sold off to end the week lower.

We were also stopped out here at $1,565 for 4.61% gains.  

We are once again close to oversold on Euthereum, and we have the same bullish buy divergence between the OP/Price.

Technometer is near oversold at 40.7.

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Good Trading,

Todd Butterfield

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