The Wyckoff Wave traded lower for the week. Technometer is still neutral and no glaring divergences between price/OP, so it appears we can still work higher from here.
The Wave has formed an apex here while volume has decreased somewhat.
The Wyckoff Wave Growth Index (WWG) was flat for the week, and continuing its upside outperformance.
Technometer is nearing neutral once again, so appears we can see some more upside here as well.
The SPY finished the week lower. The purple uptrend was weakened but we finished near the highs Friday.
Technometer is below neutral and would support further rally.
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The bond market closed slightly higher for the week.
Our Technometer is once again overbought as marked by the red arrows.
We have not entered shorts as of yet, but watching for opportune time.
The GDX finished the week higher once again.
We are still overbought on the Technometer, but the uptrend has still held our price action.
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 still look much weaker than GDX…
The long dollar ETF, UUP was once again basically flat for the week.
We wanted to see some more testing on the downside for our backup, and with our Technometer neutral we are on the sidelines.
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