The Wyckoff Wave Volatility Continues

The Wyckoff Wave closed down sharply for the week.  Volume increased.
The O-P was actually up for the week.
The Force Index was up slightly as well.
The Technometer is now above neutral.

 

The OP is trading slightly stronger than the Wyckoff Wave.

 
The Wyckoff Wave had good selling come in last week as expected.  After spending weeks at the resistance of the long term trading range we are finally seeing selling back into the middle of range as we had spoke of for weeks on end.
The Technometer has been trading closer to oversold, but now working its way to overbought.
We would expect further weakness in the week ahead.

 
The Wyckoff Wave Growth Index (WWG) traded higher for the week due to Amazon’s huge outperformance.  Otherwise this market was also showing some weakness.
With a near overbought Technometer, I would still expect this market to work lower as well.

 
The SPY finished the week sharply lower as expected.  We had been discussing the SPY could turn lower as the OP lagged the recent upside rally in prices.
The Technometer is still trading at neutral, and will allow for lower prices in the coming week.
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The bond market was once again up for the week.
Our Technometer is overbought, and we would expect the rally in the TLT to slow in coming week.

 
The GDX finished the week slightly lower.  We expected not much movement here and that is what we got.
We are on the sidelines here, but expect more weakness in the future.

 
The long dollar ETF, UUP was down for the week.  We thought resistance would keep a lid on this market, and it appears we upthrusted the resistance level we have been showing.   Lets see if we can get a test of the upthrust for a low risk short entry.

 
IMPORTANT ANNOUNCEMENT:  Our “Pulse of The Market” charting software for Cryptocurrrencies is now working.  This software has consolidated volume for the Crypto’s which is utmost important when applying Wyckoff Technical Analysis.   We are showing this software in use on our social media sites. 
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.  https://www.patreon.com/LearnCrypto
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 1005 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
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Good Trading,

Todd Butterfield