The Wyckoff Wave Still Near Overbought, So We Look For More Downside.
The Wyckoff Wave finished the week slightly lower, on an increase in volume.
We have been looking for lower, and still in that camp.
The Technometer is near overbought at 48.4.
The OP/Wave are in unison.
WWN – The Wyckoff Wave New Index also closed slightly lower, on a slight increase in volume.
We was looking for downside price action, and we still are expecting that in the week ahead.
Currently the Technometer is at overbought at 49.1.
The Wyckoff Wave Growth Index closed nicely higher last week, on an increase in volume.
The Growth Index continues to outperform to the upside, which is good for growth stocks. Let’s still look for a pullback here as well.
Currently the Techometer is near overbought at 47.6.
The SPY was also up for the week, on a slight increase in volume.
The overbought Technometer did not do much to slow the recent rally. This is overall bullish action. The Technometer is still overbought so let’s continue to look for further downside in the week ahead.
The Technometer is overbought at 49.6.
If you want more current up to the minute updates and trades as shown above, please join our ProTraders/Private Stock Discord. Join Here If you are a Crypto Discord Member, and would like the ProTraders/Private Stock Discord as well, you can have access for only $20 a month. Join Here
The bond market was flat last week, on low volume.
Last Thursday looks like “upthrust” type action. We think bonds could continue to work lower in the coming week.
The Technometer is nearing neutral at 45.8.
The Wyckoff Wave Metal Index ended the week down sharply after the FED meeting, on average low volume.
Our Technometer just came off of overbought, and we look for continued lower in the Metals in the coming week.
The Technometer is neutral/overbought at 45.8.
The long dollar ETF, UUP was up sharply after the FED meeting, on an increase in volume.
We have been looking for a low down in this area, and it appears we finally got it. Looks look for still higher next week.
The Technometer is near overbought with a reading of 48.3.
Bitcoin has been down slightly in the last week, on average volume.
We have been expecting a little lower and our Technometer closer to oversold.
Let’s still look for a pullback here, to safely reenter long trading positions.
Our Technometer for Bitcoin is near neutral at 42.4.
Ethereum is only slightly higher in the last week, on an increase in volume last two days.
Here as well we continue to look for a pullback as shown by the chart in the coming week.
To join our Patron/Discord to get these trades real-time click HERE
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.
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.