Wyckoff Wave Going to Test the Support at Bottom of Range

Monday, April 30th, 2018
What To Do?
Short Term
This market is continuing to trade at the bottom of the recent trading range.  With the Technometer near overbought it appears we have a good opportunity for support to get tested and possibly give away.
Short Term we would be implement short positions at this time in the weak stocks as compared to the Wyckoff Wave.
Intermediate and long term positions to the upside should be maintained.
There are no intermediate or long term opportunities to the downside.
Market Trends:
Intra-day: Down
Short Term: Sideways
Intermediate Term: Up
Long Term: Up
The stock market, as measured by the Wyckoff Wave traded lower Monday.   We had warned on our “Week In Review” report that we could see some weakness this week to relieve the overbought Technometer.  Also we would test the support at 51,000 to see if it is strong enough to hold.  We feel that this support level will give away…


Good Trading,
Todd Butterfield