Wyckoff Wave Downtrend Beginning?

Todd Butterfield Week In Review 0 Comments

The Wyckoff Wave was up slightly for the week as expected.  Volume was slightly lower except for Fridays witching.

The O-P was also up slightly for the week.

The Force Index was down for the week.

The Technometer was near oversold, now neutral.

 

The OP is somewhat weaker than the Wave.

 

The Wyckoff Wave was up slightly for the week, but price and volume action looks bearish to us.

The Technometer was near oversold and we was looking for some sideways trading range action to relieve this.  The Technometer is now neutral, and we have a downtrend line in place possibly as shown in pink.

But, we are of the opinion that there is lower prices still ahead.  

 

The Wyckoff Wave Growth Index (WWG) was up for the week.

The Technometer is now overbought, and we expect this market to continue to follow stocks lower in general.  It is still outperforming to the upside.

 

The SPY finished the higher.

The Technometer was near oversold, now working its way closer to overbought like the other indices.  We still expect lower prices.

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The bond market closed flat for the week.

Our Technometer traded down to near oversold and now neutral.

We would expect the TLT to work higher as stocks continue to work lower.

 

The GDX finished the week higher.

Our Technometer is now registering extreme overbought.

We could still see slightly higher prices here, but we are bearish metals in general….

 

GDXJ has been much more sideways last few weeks, and our Technometer is neutral.  We are watching closely for the Technometer to register more to overbought for a short sell.

 

The long dollar ETF, UUP was up slightly for the week.

Volume has still not been impressive on the rally, so we are on the sidelines.

 

IMPORTANT ANNOUNCEMENT:  We are close to launching a new version of our “Pulse of The Market” charting software for Cryptocurrrencies.  This software has consolidated volume for the Crypto’s which is utmost important when applying Wyckoff Technical Analysis.   We are showing this software in use on our social media sites. 

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.  https://www.patreon.com/LearnCrypto

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 1021 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

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