The Wyckoff Wave Correcting From Resistance

The Wyckoff Wave closed down for the week.  Volume was once again at slightly lower levels.
The O-P was also down for the week.
The Force Index was flat.
The Technometer is now slightly below neutral.

 

The OP is trading in lockstep with the Wyckoff Wave, except for a little extra weakness at Friday’s close.

 
The Wyckoff Wave closed down every day last week, to finish the week in the red.
We had expected this weakness, and expect more coming into this week.
The Technometer is still given us neutral readings so it gives us more room to correct.

 
The Wyckoff Wave Growth Index (WWG) traded flat for the week.
With a now neutral Technometer, I would still expect this market to work lower from here as well.

 
The SPY finished the week slightly lower which was expected.
The Technometer is neutral here as well, so expect still lower.
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The bond market was up sharply for the week, in line with our long positions.
Our Technometer is now overbought, and we would expect the rally to slow or correct.  
 
The GDX finished the week higher as well with it following the TLT as we had mentioned in our Discord.
We now have an overbought Technometer, and on the lookout for an upthrust at our resistance as marked on the chart.

 
The long dollar ETF, UUP was up for the week again, after experiencing a nice selloff Friday.
We are above resistance and an oversold Technometer, which appears to say we can continue higher here.  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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Good Trading,

Todd Butterfield

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