The Wyckoff Wave Sideways, But Looks Constructive.

MARKETS ARE CLOSED FOR MONDAY.

The Wyckoff Wave finished the week ever so slightly lower again , on low volume.

We would like to see a slightly deeper correction to get our Technometer closer to oversold.   Overall price action has been bullish last few weeks.  

The Technometer is neutral at 46.2.  

 

The Wave was slightly weaker than the OP. 

 

WWN – The Wyckoff Wave New Index also closed slightly lower, on low volume. 

We was looking for resumption of upside progress, but instead we was down ever so slightly for the week.   Our Technometer was oversold now heading back to overbought, which is not the type of action we was hoping for.

Currently the Technometer is near overbought at 47.2. 

 

The Wyckoff Wave Growth Index closed slightly higher last week, on average volume.  

The Growth Index did near oversold, but now is back to near overbought.  Again, not the type of action we was wanting from our Technometer.   We still lean to more upside, but it could possibly only be a slight new high, before a larger pullback.  

Currently the Techometer is near overbought at 49.0.  

 

The SPY was down over so slightly for the week, on average volume.

The Technometer here as well was oversold, and now working its way back to overbought.  Let’s look for higher and then another selling opportunity.     

The Technometer is neutral/overbought at 46.5.

 

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The bond market was down once for the week as expected, on low volume.

We was hoping for an oversold Technometer as we are approaching the prior $99 low, but that has not occurred.  The Technometer is actually back to overbought, so lets look for some more downside in the Holiday shortened week.    

The Technometer is overbought at 50.9.

 

The Wyckoff Wave Metal Index also ended the week down as expected, on low volume.

Our Technometer is giving us no help here in helping pick a bottom, so we will stay on the sidelines.

The Technometer is neutral/overbought at 47.2.

 

The long dollar ETF, UUP was up slightly for the week, on low volume.

We show on the chart our expectations for the Dollar in the coming weeks.

Technometer is neutral so lets look for backing and filling here. 

The Technometer is at 45.4.

 

Bitcoin had a solid week to the upside as expected, on extremely volume. 

We was wanting slightly lower price action, and a Technometer closer to oversold.   We did get the lower price action and we took that for a long entry at $21,550 for our ProTraders, and Crypto Discord.    Price immediately took off to the upside, and we are still holding long.  Technometers did register overbought briefly on Thursday, but we thought we might eat our way through resistance and continue higher.  We will watch closely early in the week…..           

Our Technometer for Bitcoin is near overbought at 48.0. 

 

Ethereum also had nice rally last week as expected, on low volume.

We are still hold long positions from $1,496, and watching price action closely. 

Technometer here as well, touched overbought briefly, but we continue to hold long positions. 

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IMPORTANT ANNOUNCEMENTS: 

We launched our WyckoffSMIChina.com site late March, for our China community.  Check it out!

We now have a lower cost version of our Unleashed Course, which is an excellent value at $349.99.  

Click Here Our new “Pulse of The Market” charting software for Cryptocurrrencies is now showing consolidated volume from over 140+ exchanges.  This is utmost important when applying Wyckoff Technical Analysis.   We are showing this software in use on our social media sites, and will be launching for subscription in near future. 

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. Join Here

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 1029 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.

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Good Trading,

Todd Butterfield