Wyckoff Wave Normal Corrective Pullback.

The Wyckoff Wave closed last week slightly lower, on extremely low volume.

We were expecting the rally to slow last week, and experience a slight pullback.  That is what has occurred and we expect slightly more to the downside before reaching a buy level.

Now we have the Technometer registering neutral, so lets looks for a little lower early in the week.   Previous support is at the blue support line.

The Technometer is neutral at 44.8.  

 

The OP and Wave are moving in unison.

 

WWN – The Wyckoff Wave New Index closed flat for the week, on extremely low volume.   

We was also looking for a slight pullback here, which started late last week.   Lets look for a little lower and a Technometer a little closer to oversold, before calling the correction over.   

The Technometer is nearing neutral at 46.6.  

 

The Wyckoff Wave Growth Index was down slightly for the week, on continued low volume.

We have been looking for lower, and here the Technometer is nearing oversold.  Let’s look for clearly oversold early in the week.  

Currently the Techometer is nearing oversold at 41.9.  

 

The SPY began its slight correction on continued low volume. 

We was expecting slightly higher before a correction, which is what we got.   Let’s look for a little further correction before picking a low.   

We are neutral on the Technometer at 44.4.  

 

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The bond market continued its selloff on low volume.

We was looking for a rally back to resistance, instead we fell back near support.  We are on the sidelines until clarity returns.

The Technometer is neutral at 45.3.

 

The GDX traded the week lower, on low volume.

We was wanting a pullback in the metals market, to give us an oversold Technometer.   We got exactly that.  Let’s look for support to hold, and a turn higher.  

Technometer is oversold at 35.9.

The Wyckoff Wave Metal Index is in the same position as GDX. 

The Technometer is nearing oversold at 40.5.

 

The long dollar ETF, UUP closed the week sharply higher on average volume.

We was wanting a rally off of an oversold Technometer to enter shorts.   We got exactly that.   Let’s see if we can turn lower in this market and start a renewed downtrend. 

The Technometer is extreme overbought with a reading of 54.2.

 

Bitcoin underperformed stocks early in the week, then succumbed to selling as stocks turned lower.    

We expected lower here with stocks, and we are nearing oversold on our Technometers, so we think we will make a low in Crypto as well in the coming week.    

Our Technometer for Bitcoin is at an oversold 39.2. 

 

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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