The Wyckoff Wave Still Trading Near Bottom Of Recent Range

This past week the Wyckoff Wave traded lower on Monday to continue testing the previous spring position.  It then rallied strongly Tuesday, but then spent the rest of the week trading sideways.  Not the type of action we would expect after a successful test of a spring.   The test was not of high quality as volume was not decreased versus the spring, so maybe we will test the low a few more days before experiencing a meaningful rally attempt.  Volume was at average levels for the week.

The Technometer began the week at slightly below neutral levels, and finished the week at the same level.

For the week the S&P was up 1.9%, and the Nasdaq 2.77%.


Thus far the Wyckoff Wave has found support at the previous lows of  51,000.  The Technometer was deeply oversold and now supporting a neutral reading.  We had a spring eight trading days ago, and then spent a few days testing the area on sustained volume.  Fridays action looks like a test of the weeks before high, and a poor close.   We do have a downtrend in place, so if Friday’s action continues lower it will leave the door open to further downside action and a breaking of the 51,000 support level.

The O-P had not rallied at all since the short term lows of Feb 5th.   It continues to trade near the lows.

The Force Index continued higher last week.

The Technometer finished the week once again at neutral levels.

The one year daily chart shows the Wyckoff Wave trading in an uptrend but weakening as we have been warning.  Last week’s action has kept the bull side alive with continued support being found.

The Wyckoff Wave Growth Index (WWG) continued making further gains last week.  But Friday’s action does not look good on the charts.  We respected the overbought line of the longer term blue uptrend, and possibly could have put in a rally high for a new downtrend line in purple.

The bond market traded sideways for the week.  The Technometer came back to near overbought on Wednesday, so we would expect this market to rollover once again.  We are holding shorts from $125.08.

IMPORTANT ANNOUNCEMENT:  We will soon be launching our “Pulse of The Market” for Cryptocurrrencies.  This software will have consolidated volume for the Crypto’s which will be most important when applying Technical Analysis. We have had delays in the launch as getting correct volume data from 39 exchanges has been a monumental task for our software.
Due to the demand for Bitcoin/Cryptocurrency information and trading knowledge, we released a Cryptocurrency and Wyckoff Trading Course at our site,   This course is being offered at an affordable $299.99.  We have had 904 students enroll in the last 39 weeks.   
If you are interested in Cryptocurrency news and Wyckoff chart analysis, search “Learn Crypto / Wyckoff SMI” or click this link
Please subscribe and click the bell to be notified of our upcoming broadcasts.  
Our current schedule is Monday-Thursday approximately 6:30 p.m. CST, and they usually last approximately one hour.  We will also broadcast at additional random times since we want to satisfy our international subscribers as well.  
If you would also like to follow us on twitter for news and trade ideas, follow “LearnCryptoShow”, or “WyckoffonCrypto”.   We have given numerous profitable trades to our subscribers on the Youtube channel, as well as Twitter.  
Good Trading,

Todd Butterfield

Related Articles


This site uses Akismet to reduce spam. Learn how your comment data is processed.

ProTraders Announcement​

We moved our two subscriptions to a Discord channel

Now you can Join us on Discord Channel