The Wyckoff Wave was up for the week and continued its pattern of gains.
The Technometer is now extreme overbought and Friday could have been a buying climax. We had a nice increase in volume and a close middle of the range. We are still of the opinion that this rally has ran its course.
We would expect a turn down from these levels.
The Wyckoff Wave Growth Index (WWG) was up for the week, and underperforming for the week.
The Technometer is also overbought, and we expect this market to turn lower as well.
The SPY finished the week higher with the rest of the general market.
The Technometer is also extreme overbought, and we expect lower.
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The bond market closed sharply lower for the week.
Our Technometer relieved its oversold condition on Tuesday and allowed for further weakness. Fridays’ action could have been a selling climax.
We would expect the TLT to work higher as stocks work lower.
The GDX finished the week lower.
The Technometer is neutral and price action on Friday has us leaning to a bounce next week.
The long dollar ETF, UUP was down for the week again.
Volume increased late in the week, and this market could be ready to turn up finally.
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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 1020 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.
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