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.


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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.

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Good Trading,

Todd Butterfield

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