The Wyckoff Wave finished the week lower as expected, on average volume.
We had been wanting lower, and at least a pullback to $59,400 or lower. We did get that last week, but we are still not excited about the upside. Let’s look for a little more backing and filling in the week ahead.
The Technometer is near neutral at 43.6.
The OP lead Price higher up into last week’s highs. Let’s see if the OP can work lower from here and Price follow.
WWN – The Wyckoff Wave New Index traded basically sideways all week, on average volume.
We are still trading near overbought on our Technometer, and we look for some weakness in the coming week.
You can see here the OP keeps making new highs, while Price has lagged.
Currently the Technometer is near overbought at 48.1.
The Wyckoff Wave Growth Index was slightly higher for the week, on average volume.
We would expect to see still lower here as well.
Currently the Techometer is nearing neutral at 45.9.
The SPY rallied strongly to end the week higher, on average volume.
We was looking for lower here as well, and it reversed higher on us. It doesn’t appear this is a strong move to the upside, and could turn lower once again.
The Technometer is overbought at 50.1.
If you want more current up to the minute updates and trades as shown above, please join our ProTraders/Private Stock Discord. Join Here If you are a Crypto Discord Member, and would like the ProTraders/Private Stock Discord as well, you can have access for only $20 a month. Join Here
The bond market as shown by the TLT, traded higher last week, on low volume.
We was looking for some upside price action, but now with an overbought Technometer we would expect lower from here in the coming week.
The Technometer is overbought at 49.5.
The Wyckoff Wave Metal Index was only down slightly for the week, on low volume.
The OP here also reached new highs to end the week, while price is sideways. We would think there is still more downside in the week ahead.
The Technometer is near overbought at 47.8.
The long dollar ETF, UUP was sideways in a narrow range last week, on low volume.
We can still see the Dollar bounce a little to correct the recent decline, then turn down again.
The Technometer is neutral at 45.3.
Bitcoin finally experienced a sharp rally last week, on low volume.
We spoke of a low risk buying opportunity into our labeled BackUp. We didn’t get the exact setup we wanted here, so we are still on the sidelines for our Trading positions.
We could still see some downward price action in the coming week, to setup a low risk buying opportunity.
Technometer is neutral here at 44.
Ethereum also rallied last week, on low volume.
We was looking for lower to repurchase and has spoke of $1,850 as being downside support. That area did provide a rally attempt off an oversold Technometer.
We are still on the sidelines, and would expect another buy setup lower in the coming week.
Technometer is neutral at 44.3.
To join our Patron/Discord to get these trades real-time click HERE
Our Wyckoff Wave Crypto Index (WWCI) was deeply oversold last week, and that did provide a bounce as expected.
We are now at neutral on our Technometer, and could see a pullback here in the coming week as well.
We launched our WyckoffSMIChina.com site March 2022, for our China community. Check it out!
We now have 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 1029 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.