Wyckoff Wave Rallied As Expected Last Week.

The Wyckoff Wave was up nicely for the week as we expected.  Volume was light.
The O-P was also for the week.
The Force Index was up for the week.
The Technometer is nearing overbought.

The Optimism Pessimism Index and Wyckoff Wave are moving in unison.

The Wyckoff Wave’s Technometer was friendly last week, thus we expected higher prices this week as we got.
Our Technometer is now nearing overbought so we expect a short term high soon.

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 did not rally for the week as expected.  We will be watching this closely.

At our BUY marking, PAGS 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.
Last week PAGS traded higher as expected.  We are now testing the previous highs so we will be watching closely.

TRIP rallied nicely for the week and back at the highs.

The Wyckoff Wave Growth Index (WWG) was higher last week as expected off the oversold Technometer.
The Technometer is now nearing overbought, so we will be getting cautious at these levels.

The SPY finished the week higher as well.
The Technometer is just above neutral so we can see a little higher early in the week before we are overbought.
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The bond market was down for the week for new lows for the move.
Our Technometer is now nearing oversold, and the OP is holding higher levels.  We will be looking for a short term low in the days ahead.

The GDX finished the week flat.
We are short and was expecting a sharp markdown from here.  Technometer was oversold, and we did not rally much.  We are now heading to overbought, so we are staying short for a little longer to see if we can break to new lows.

The long dollar ETF, UUP was up for the week.
The Technometer is nearing oversold, so we are looking for still further upside.

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Good Trading,

Todd Butterfield