Wyckoff Wave Oversold, Can We Now Rally?

The Wyckoff Wave traded slightly lower for the week, on slightly lower volume.

We was looking for more upside action off of the “last point of support”, but no harm to the price action as of yet.

With last week’s selloff we have the Technometer right at oversold, which is what we have been waiting for.  Therefore, we will be on the lookout for a return to upside price action.

Technometer is nearing oversold at a reading of 39.10.

The OP is leading the action to the downside which is what is making our Technometer move to oversold.  Would like to continue to see negative volume here early Monday, while price holds.  This will give us a solid oversold reading.

The Wyckoff Wave Growth Index was trading higher for the week, before ending the week on a sour note again due to news out of Russia.  Volume was slightly lower as well again.

The WWG index continues to test the previous lows, with the OP hitting a new low, while price has held.   We continue to stay bullish and look for higher price action.

Technometer is near oversold with a reading of 39.81.  It reached oversold on Thursday.

The SPY closed the week lower as well, on average volume.

We was looking for sideways here, and then higher.  The news on Russia brought in selling again to end the week. We still think the markets are trading constructive and can continue higher after this test of previous lows.  Here as well, we have the OP hitting a new low while price holds higher.

The Technometer is near oversold at a reading of 39.97, after reaching oversold on Thursday.

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 closed flat for the week, after falling early in the week, and finishing the week on a rally.  We was on the lookout for a spring and a test, and last week’s action fits that.  We look for higher in the coming week for the TLT, and would like to see volume come into the upside here. 

The Technometer is near neutral with a reading of 42.82.

The GDX closed the week higher once again.  Volume was higher on the rally.

We think Precious Metals can continue to  rally in the face of a weak Dollar.

Technometer is near overbought with a reading of 46.94.

The long dollar ETF, UUP closed flat for the week on low volume.

The action still looks like a corrective rally of the upthrust decline, and we will turn lower once again.  We are bearish the Dollar. 

The Technometer is near oversold with a reading of 39.00.

Bitcoin also was down for the week in sympathy with the Nasdaq, as both are “risk-on” assets.   

Also here, we have some bullish divergences as shown by pink, as well as the larger one in blue.  OP hitting new lows, while price holds higher.  This is bullish action. 

We also registered an oversold Technometer for Bitcoin.  We look for higher price action.


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

Related Articles


This site uses Akismet to reduce spam. Learn how your comment data is processed.

ProTraders Announcement​

We moved our two subscriptions to a Discord channel

Now you can Join us on Discord Channel