Wyckoff Wave A Little Lower This Week?

The Wyckoff Wave closed last week slightly higher, on low volume.

Beginning Wednesday we started to register overbought readings on our Technometers, and expecting at minimum a slight correction.

The Technometer here is quickly back to neutral at 43.5, and should get to oversold early next week.  If that does happen, we would expect further upside after that.  


The OP is weaker then the Wave, which is what is getting the Technometer quicker to oversold. 


WWN – The Wyckoff Wave New Index also closed slightly higher for the week on low volume.    On Thursday, we got an overbought Technometer here, and we expect a pullback into next week.   For the WWN to meet resistance back at its previous “Ice”, and overbought, looks a little precarious, so lets see if any selling comes in this coming week. 

The Technometer is near overbought at 48.5.  


The Wyckoff Wave Growth Index was up for the week on low volume.

We wanted the WWG to take out a previous price high, when our Technometer was overbought (as shown by red dot), to make this market look more bullish.   It did do this last week as it broke through previous short term resistance.

Let’s watch this market, as if we can get the Technometer to quickly get near oversold on a slight pullback, we would be bullish.  If not, we could be in for a move to new lows.

Currently the Techometer is overbought at 50.0.  


The SPY closed the week slightly higher on low volume.  The SPY also took out previous short term resistance, so lets see what early in the week price action looks like.

We are neutral/overbought at 46.5 on the Technometer.  


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The bond market closed higher for the week on low volume.

We thought we could see some upside on the TLT, and we are now back at previous short term resistance.   We are not clearly overbought, so we need this market to get thru the resistance without upthrusting it. 

The Technometer is approaching overbought at 48.4.


The GDX traded the week slightly lower, on low volume.

This market is still probing for a low, but no strong indications that is occurring as of yet.

Technometer is near oversold at 40.1.

The Wyckoff Wave Metal Index is below.  Nothing to add to comments as of yet.

The long dollar ETF, UUP closed the week lower on low volume.

We think this market could have topped, and will be looking for a short entry.

The Technometer is nearing oversold with a reading of 40.7.


Bitcoin followed stocks higher for the week once again.   

We got close to overbought on Bitcoin middle of the week as well, but now back to neutral. 

If we can now get an oversold Technometer on a slight pullback middle of this week, we would like the setup.

Our Technometer for Bitcoin is near neutral at 44.6.



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Good Trading,

Todd Butterfield

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