Wyckoff Wave Continues To Trade In A Narrow Range.
The Wyckoff Wave was up slightly once again for the week as expected. Volume continues at very low levels.
The O-P was down for the week.
The Force Index was also down for the week.
The Technometer is moving towards oversold. The Wyckoff Wave has moved sideways, while the Technometer is moving closer to oversold. This is bullish action.
The Wyckoff Wave is stronger than the OP, as the OP made a new low for the week, which is making the Technometer move towards oversold.
The Wyckoff Wave traded sideways for the week once again. We continued to look for some type of correction, but not getting it. The Technometer is near oversold, so we will watch for clearly oversold this coming week.
The Wyckoff Wave Growth Index (WWG) was higher again last week, against our expectations of a turn lower.
The Technometer was clearly overbought as marked by the red circle, but coming off of that quickly. This is bullish action….
The SPY finished the week higher as well, continuing its recent advance.
The Techometer is near overbought still so we think we could have some type of correction here, before it nears oversold.
If you want more current up to the minute updates and trades as shown above, please join our ProTraders/Private Discord. Join Here
If you are a Crypto Discord Member, and would like the Stock Discord as well, you can have access for only $20 a month. Join Here
The bond market was up for the week, as expected.
Our Technometer had been at oversold levels, and quickly went to extreme overbought. We are long with small losses, and will look to trail a stop and look for still higher.
The GDX finished the week higher again, against our expectations.
The Technometer was extreme overbought and did not stop the advance. We will be looking for this market to turn lower this week, or we will be exiting our short position.
The long dollar ETF, UUP was down for the week.
The Technometer was oversold, so we are looking for the Dollar to find support and turn higher again.
The last two buy divergences as shown by the blue lines, were accompanied by oversold Technometers as marked in green, and has kept us moving higher. We have the same setup again for the third time.
IMPORTANT ANNOUNCEMENT:
We have just released a lower cost version of our Unleashed Course, which is an excellent value at $349.99. Click Here
Our new “Pulse of The Market” charting software for Cryptocurrrencies is now showing consolidated volume from over 140+ 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 1025 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
Responses