Wyckoff Wave Quiet Holiday Trading.

The Wyckoff Wave was up slightly for the week.  Volume was lower for the Holiday week.
The O-P was unchanged for the week.
The Force Index was up for the week.
The Technometer is neutral.

The Optimism Pessimism Index and the Wyckoff Wave are trading in unison.

The Wyckoff Wave closed slightly higher for the week.  The selloff still looks corrective in nature and no major sell volume.  The Wyckoff Wave is still trying to correct back to the creek, and could continue its recent gains after successful test.  The test could be over as Friday’s close was highest of last 8 sessions.
Our Technometer is now neutral.  We added some longs last week, and lets see how the week begins to start the new year.

Charts on a few ProTraders positions.
KEYS we purchased as you can see the OP was downtrending and price was holding, while the Technometer registered oversold.
Keys has continued working higher, and last week registered oversold once again on our Technometer.

PAGS also had the OP work lower while the stock was making a backup to the creek while an oversold Technometer reading.  This one took off which is normal action after a backup to the creek.
PAGS continues higher and acting very strong.

MSFT has had two times recently of the OP making new lows while price holds as marked by blue arrows.
Short term it looks like we tested previous resistance at $219 and reversed higher.  The Technometer is oversold once again.

We added TRIP to our long Protraders positions as well.

The Wyckoff Wave Growth Index (WWG) ended the week higher.
The Technometer was deeply oversold, now quickly back to near overbought.  We will be watching this as the week begins, as we would have expected more strength before getting an overbought Technometer.

The SPY finished the week higher as well.
The Technometer was oversold and now extreme overbought.  If we had completed a backup as shown on the chart, we wanted to see price respond to the upside aggressively here.  So far it has been a slow rally, but we were in Holiday mode.  We will watch early in the week, to see how we respond to the overbought Technometer.
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The bond market was up slightly for the week as expected.
The Technometer is now back to neutral.  We thought we could see some further gains here, but for now we are still on the sidelines.
The Technometer registered overbought two weeks ago, and we only had a slight selloff.  Then it registered oversold and we have not responded to the upside hardly at all.   We will stay on the sideline.

The GDX finished the week unchanged.
We had an oversold Technometer last week, then we went to overbought on Wednesday.  We really want to see this market move lower here, or we could possibly cover shorts and stand aside.

GDXJ right at the ICE level…

The long dollar ETF, UUP was down for the week.
We are looking for a spring/test here and further upside.  We will monitor….

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Good Trading,

Todd Butterfield