We want to enter some new positions at the market…

The Wyckoff Wave has had three days of selloff that we called for in our “Week In Review”.   We had thought we were trading into an apex, and we now have a divergence with the OP, and a Technometer reading that is coming down to oversold territory in next day or so.
You can see the divergence between the OP and the Wave by the two blue arrows.  Lots of pressure to the downside by the OP, while the Wave is moving sideways.  We like this action.

We therefore would take a position in the SPY, and also strong stocks like CAT and BMY.
We had also stated that we thought the TLT might rally slightly and we would use that to add to shorts as the TLT Technometer got closer to overbought.  That as well has happened so we will add to our shorts on TLT here.

We took a position in AGCO last week that we would have no problem adding to here.
We for sure want to double our position in Overstock (OSTK).  It has came down and we had talked of dollar cost averaging this one due to its volatility.
Good Trading,
Todd Butterfield

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