The Wyckoff Wave Straight Thru The Bottom Of The Trading Range

Todd Butterfield Week In Review 0 Comments

The Wyckoff Wave closed sharply down for the week.  Volume was at much higher levels.

The O-P was also down sharply for the week.

The Force Index was down sharply.

The Technometer is now oversold.

 

The OP is trading in lockstep with the Wyckoff Wave, which has helped the decline continue.

 

The Wyckoff Wave closed down sharply every day last week, to finish the week deep in the red.  We have had 11 days in a row red off the highs.

We had stated that we expected more weakness this week, but this was a little faster than we would have thought.

The Technometer is still given us oversold readings so we could possibly slow the decline and try to have a partial recovery of the decline.

 

The Wyckoff Wave Growth Index (WWG) traded down sharply for the week as well, as expected.

With a near oversold Technometer, I would expect this market to try and find a bottom as well.

 

The SPY finished the week sharply lower as expected, and back to levels we have previous marked as support.

The Technometer is oversold here as well, so looking for a bounce.

If you want more current up to the minute updates, please join our ProTraders/Private Discord.  We gave a few individual buys late in the week and excited about various stocks at these levels.  Join Here

 

The bond market was up much more sharply on the week then we would have expected.  But you can see that at Wednesday’s close the Technometer returned to oversold, and still at that level.  This showed us that the TLT could stay firm. 

 

The GDX finished the week sharply lower, and upthrusted the resistance as we had mentioned.  This market looks sick and after any partial recoveries should continue lower.

We have an oversold Technometer that needs relieved before we continue lower….

 

The long dollar ETF, UUP was down for the week.

We have backed up into the creek, with a deeply oversold Technometer, but Friday’s volume was heavy.  We will watch from the sidelines.

 

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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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.  

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Good Trading,

Todd Butterfield

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