Wyckoff Wave Looking To Extend Last Week’s Gains.

The Wyckoff Wave closed higher for the week, on low volume.

We were wanting support to hold early in the week, and a return to higher prices.  That is what happened, and it appears we can expect more upside in the coming week.   

The Technometer is neutral at 44.0.  

 

The OP was a little weaker late in the week, but that is keeping the Technometer at neutral.  Both should turn higher in the coming week.

 

WWN – The Wyckoff Wave New Index closed higher as well for the week, on continued low volume.   

We were wanting our Technometers to get closer to oversold, before turning higher.  Our WWN Technometer did not, but many of our other indices did.  Lets look for more strength in the coming days.

The Technometer is nearing overbought at 47.8.  

 

The Wyckoff Wave Growth Index was also up for the week, on continued low volume.

We were oversold on our Technometer a week ago, and that did turn us higher as expected.   We are now neutral, so lets look for the rally to continue.

Currently the Techometer is neutral at 44.7.  

 

The SPY had a sharp rally to end the week, on low volume.

We were expecting a low to be made this last week, and a corresponding rally.  It appears we can see more upside before calling an end to the short term rally.     

The Technometer is just slightly above neutral at 45.9.  

 

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The bond market continued lower for the week once again.

I still expect the TLT to reenter its recent trading range as it is deeply oversold. 

The Technometer is deeply oversold at 33.8.

 

The GDX traded the week nicely higher, on average volume.

We were expecting a successful spring/test, and that appears exactly what occurred.   Technometer supports higher prices from here, so lets expect a rally to the top of the trading range.   

Technometer is oversold/neutral at 42.0.

The Wyckoff Wave Metal Index is in the same position as GDX, with a successful spring.

The Technometer is back to neutral/overbought at 47.3.

 

The long dollar ETF, UUP closed the week slightly lower, on average volume.

We are looking for a top in the Dollar, but our Technometer is now deeply oversold.  We would like that to come off those levels, to be able to get aggressive short.  If the UUP cannot rally off of a deeply oversold Technometer, that could be telling us a intermediate term top is being made.

The Technometer is deeply oversold with a reading of 27.5.

 

Bitcoin finished the week with a quick rally off of the recent lows, on average volume. 

Bitcoin broke the lows on Tuesday, then quickly recovered.   Lets look for higher early in the week with stocks, then look for a small retracement.  

Our Technometer for Bitcoin is nearing overbought at 47.9. 

 

IMPORTANT ANNOUNCEMENTS: 

We launched our WyckoffSMIChina.com site late March, for our China community.  Check it out!

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 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.  

Good Trading,

Todd Butterfield

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