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.
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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.

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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
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Good Trading,

Todd Butterfield

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