Wyckoff Wave Coming To An Apex

Wednesday, March 14, 2018
What To Do?
Short Term
This market is coming to an apex as we mentioned on the weekends “Week In Review”.  This would be a good time to be prepared to enter short term long positions for continued upside.
Intermediate and long term positions to the upside should be maintained.
There are no intermediate or long term opportunities to the downside.
Market Trends:
Intra-day: Down
Short Term: Sideways
Intermediate Term: Up
Long Term: Up
The stock market, as measured by the Wyckoff Wave traded lower once again Wednesday.   We had warned that we could see some weakness this week to relieve the overbought Technometer.  We have seen three days of weakness and anymore weakness here will give us another short term divergence with the OP, as well as an oversold reading on the Technometer.
As you can see from the chart below…we have shown the OP divergence with price by the two blue arrows.  The OP has continued making new lows while the Wave is moving sideways into an apex.
We would look at long positions in those stocks stronger than the Wyckoff Wave.

 
We have also been short the TLT for months and had warned of a slight rally possible in the TLT to return the Technometer overbought.  We have now almost accomplished that as well the last three days, so we would add to shorts in TLT.
 

 
Good Trading,
Todd Butterfield