Wyckoff Wave Holding Gains!

The Wyckoff Wave continued adding on to the gains from the recent lows.   Volume was at low levels.

I was expecting a rest here, and the Technometer to come off of overbought.   That is gradually happening, but we need a little more pullback to give us another long entry setup.

The Technometer is near overbought with a reading of 48.6.


The Wyckoff Wave Tape Reading Index (WWTR) traded sideways on low volume.

We was looking for consolidation here as well, and got that last week.   The Technometer was extreme overbought, and has came off some but still overbought.  We think this is bullish price action up at these levels.

Technometer is overbought with a reading of 51.38.

The OP is leading the WWTR Index, which is giving us the overbought Technometer.  

The Wyckoff Wave Growth Index traded higher last week.  Volume here was once again average. 

We would like to see some backing and filling here, and a Technometer back near neutral.   Otherwise, the recent price action appears bullish.  

Technometer is overbought with a reading of 52.4.  

The SPY closed the week higher, on lower volume. 

We are looking for higher, and the SPY continues to add to gains.    We would like to see some consolidation here, to give us a chance to add to long positions.   The Technometer has came off some with price extending recent gains.  This is bullish action.  

The Technometer is near overbought with a reading of 49.8.

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The bond market closed lower for the week once again.  We still think this market can spring the recent lows, and work higher.   Our indicators have not given us much help here for a few months.

The Technometer is at neutral with a reading of 43.27.

The GDX closed the week slightly higher, on low volume.

We have been friendly the Metals market recently, but was expecting sideways after last week’s buying climax.   We still expect more sideways, here and a possible long entry soon.  

Technometer is near overbought with a reading of 49.68.

The long dollar ETF, UUP closed up last week, on extremely low volume. 

We have leaned bearish the Dollar, but the Russia news has kept a strong bid here for prices.   We are on sidelines but want to be short. 

The Technometer is neutral with a reading of 45.7.

Bitcoin worked higher last week as well.   Volume has been low/average.

We have shown bullish intermediate divergences in blue, and we have stayed bullish on Bitcoin. 

With stocks looking sideways to down possibly short term, we expect Bitcoin to probably do the same.   But we look for higher prices still.

Our Technometer for Bitcoin is nearing overbought with a reading of 47.7.

ATOM – Atom was up slightly for the week on low volume.

We have the continued bullish divergences as show in blue, and continued oversold Technometer readings.

Technometer is at 38.7, and previous readings around 40.80 have given us good buy zones.

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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

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Good Trading,

Todd Butterfield

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