The Wyckoff Wave Trying To Get Back Into The Trading Range

The Wyckoff Wave closed slightly down for the week.  Volume was slightly higher than the previous week.
The O-P was up for the week.
The Force Index was flat.
The Technometer is nearing overbought.


The OP began trading stronger than the Wyckoff Wave late in the week.

The Wyckoff Wave experienced large volatility every day last week, to finish the week slightly in the red.  We had stated we thought we would slow the decline, or try a recovery and we did just that.
The Technometer is now trying to give us overbought reading on any further rally.   With this in mind, we would expect more sideways here.  CoronaVirus is giving us more selling currently with the Dow Jones called down over $1,000.  We don’t want to catch a knife, but we still think the markets could try to hold in here.

The Wyckoff Wave Growth Index (WWG) traded up ever so slightly for the week as well, as expected.
With a neutral Technometer, I would expect this market to continue to try and recover the losses we are seeing now and rally some more this week.

The SPY finished the week slightly higher as well.
The Technometer is nearing overbought, we we will look for more attempts to the upside.
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The bond market was up extreme sharp again this past week.  Our oversold Technometer warned us that TLT could continue higher.
On much further strength, our Technometer will register overbought.  This could happen as early as Monday opening.  We would think this is a place to close long positions, and/or enter short positions.   Risk is high, so be careful.
The GDX finished the week sharply higher, as the Technometer warned of this.
We now have an overbought Technometer, and think this market could be testing its upthrust, and ready to try the downside again.

The long dollar ETF, UUP was down sharply for the week.
We are on the sidelines here.  Would expect a rally back into the trading range…..

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.
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 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
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Good Trading,

Todd Butterfield

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