Wyckoff Wave Healthy Pullback…
The Wyckoff Wave traded slightly lower for the week. Volume was higher early in the week, then trailed off.
With the Technometer trading near oversold and the Wave holding gains, it appears we will once again try to turn higher. Any further pullback from here should be another buying opportunity.
The Wyckoff Wave and OP trading in unison.
The Wyckoff Wave Growth Index finally decided to take a breather as expected. We are still in the solid uptrend and looking for a place to add to longs. Our Technometer is near neutral, so we would like to see a slight pullback this week in the Index so we can add to long positions.
Technometer is near neutral at a reading of 46.28.
The SPY closed slightly lower for the week, and holding recent gains incredibly well.
The Technometer started the week overbought, but now back to below neutral, and nearing oversold. This appears to be really bullish price/volume action. We want to add to long positions this week on any further pullback.
The Technometer is nearing oversold at a reading of 42.17.
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 was down slightly for the week, after a surge Tuesday, and then continued selling to end the week. We was looking for this market to find resistance and turn lower. The TLT looks like it will continue stair stepping lower…..
The Technometer is nearing oversold, with a reading of 40.35.
The GDX closed the week higher.
The Technometer was extreme overbought last week, but the rally has continued. This shows the underlying strength in the metals market as we expected. We will look for an entry for the long side….
Technometer at an overbought reading of 52.04.
The long dollar ETF, UUP was up for the week and trying to break out of the trading range. The Technometer is overbought so we could still see this market up thrust this resistance, and return to the trading range. We have been wanting to be short, but luckily are indicators have not positioned us that way as of yet. We will watch this week for further clues.
The Technometer is overbought at a reading of 53.59.
We have just released 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 1028 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.