Wyckoff Wave At Resistance,What’s Next?

The Wyckoff Wave was up for the week once again.  Volume was at normal levels for the week.
The O-P was up slightly for the week.
The Force Index was up for the week.
The Technometer is slightly above neutral levels.

The OP is slightly weaker than the Wave.  This is what is making the Technometer more oversold.

The Wyckoff Wave rallied once again this last week, on normal volume.
The overbought Technometer and previous resistance might have helped stopped the rally and give us a slight correction.  It doesn’t appear at this time it will be that large of a correction, with some of our Technometers moving to neutral/oversold quickly.

The Wyckoff Wave Growth Index (WWG) was up for the week as well, and tested the top of the recent range.
The Technometer is slightly above neutral here, and we will still look for lower prices to test the bottom of the recent range.

The SPY finished the week slightly higher.
The Technometer has went from overbought, to nearing oversold quickly.  This is good for the bulls as we are still in an uptrend and holding higher levels.
We will need to watch the Technometer early in the week here to see if it does reach oversold.
If you want more current up to the minute updates, please join our ProTraders/Private Discord.  Join Here

The bond market closed sharply lower for the week.
This week brought major weakness, and has turned this market lower.  We have an oversold Technometer so we would like to see a relief rally to sell short.
We had warned a week ago, that we had seen the OP work much higher while prices were just at resistance, so that negative divergence showed itself last week by the abrupt weakness.

The GDX finished the week sharply lower, and broke the uptrend as we had wanted.
The recent sharp selloff returned the Technometer to oversold levels early in the week.  That was enough to stop the decline.  We still think lower prices are ahead.
Sentiment has been extreme bullish and we would expect more of that needs worked off.


The long dollar ETF, UUP was down slightly for the week.
We think he coming week could still see further strength as the OP went to a new low Wednesday/Thursday while prices held.  This is a slight bullish divergence.
Sentiment is extreme bearish and we look for this market to make an intermediate low in this area.

We have just released a lower cost version of our Unleashed Course, which is an excellent value at $349.99.  Click Here
Are new “Pulse of The Market” charting software for Cryptocurrrencies is now showing consolidated volume from over 100+ exchanges.  This is utmost important when applying Wyckoff Technical Analysis.   We are showing this software in use on our social media sites, and will be launching for subscription in near future. 
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. Join Here
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 1021 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
Please subscribe and click the bell to be notified of our upcoming broadcasts.    
If you would also like to follow us on twitter for news and trade ideas, follow “WyckoffonStocks”, “LearnCryptoShow”, or “WyckoffonCrypto”.   We have given numerous profitable trades to our subscribers on the Youtube channel, as well as Twitter.  
Good Trading,

Todd Butterfield

Related Articles


This site uses Akismet to reduce spam. Learn how your comment data is processed.

ProTraders Announcement​

We moved our two subscriptions to a Discord channel

Now you can Join us on Discord Channel