Wyckoff Wave Continuing Sideways Trade In Its Recent Range.

The Wyckoff Wave was flat for the week.  Volume continues at consistent low levels.
The O-P was up for the week.
The Force Index was up for the week.
We have been looking for continued sideways action in our recent trading range, and it appears we can expect more.
The Technometer is working towards overbought, but appears more upside before that will happen.   So we will look for a slight rally and an overbought Technometer in the week ahead.

The Wave and OP are trading somewhat in harmony.  The OP is trading slightly stronger, thus the Technometer heading to overbought.

In the larger picture we continue to see range bound trading.  For the time being, it appears we can expect still more.
The Technometer was oversold as we hit the support from the AR (Automatic Reaction) two weeks ago, now nearing overbought as we are nearing the resistance.  Continued summer doldrums.

The Wyckoff Wave Growth Index (WWG) was down sharply for the week as expected.  Volume was slightly higher on the selloff.
We were on the sidelines looking for lower, and we saw some nice selling to end the corrective week.
Technometer is still neutral/overbought, so we expect still lower prices in the week ahead.

The SPY finished the week slightly lower.   On the SPY, we was looking for a slight further rally early in the week, then a correction to begin.  It appears the correction has started and has further to go on the downside.  The intermediate term blue uptrend appears to still offer some support on the downside.
Technometer is neutral, and we expect lower prices until it gets closer to oversold.

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The bond market was up slightly for the week, after trading most of the week sideways.
Our Technometer is at overbought readings, so we suspect the blue uptrend could be in jeopardy this week, as we have seen the OP still hitting new highs, while the price is testing the highs of 10 days ago.  This is a bearish divergence……

The GDX finished the week up with a strong up day on Thursday.
Technometer is now overbought, which is what we were wanting.  We expect this market to turn lower once again.

The long dollar ETF, UUP was down for the week as expected.
The Technometer is still at neutral and price is correcting sideways.  We would like to see a further pullback to possibly give us another buy signal.

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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 1026 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
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Good Trading,

Todd Butterfield

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