Wyckoff Wave Ready For A Bounce?

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

The Optimism Pessimism Index is trading a little weaker than the Wyckoff Wave.  You can see at the lows the OP made a new low while the Wave did not.  This lead to the strong rally Friday.

The Wyckoff Wave was slightly higher for the week after trading lower until Friday’s reversal.  We bought some stocks Friday as we expect a corrective bounce for a few days, before lower.
Our Technometer is near neutral, and supports further rally attempts.

Charts on a few ProTraders positions we took.   We will show these next week….
The Wyckoff Wave Growth Index (WWG) was lower last week as some selling came into the growth names as we expected.
The Technometer got oversold and thus we took some long positions.  Technometer is now back to neutral.

The SPY finished the week lower as well.
The Technometer is near neutral, and we think allows a corrective rally before becoming overbought.   If we see overbought Technometer levels here in the coming week, we will take protective action.
If you want more current up to the minute updates and trades, please join our ProTraders/Private Discord.  Join Here

The bond market was down once again for the week and testing previous lows.
Our Technometer is near overbought and this market needs sideways or lower before making a good bottom.   We had expected bonds to trade better on a stock selloff, but this did not happen.  Actually the weakness in bonds is what lead to the aggressive selling in growth stocks.

The GDX finished the up ever so slight.
We have been short and on the lookout for a area to take profits.  We are still on the lookout.

The long dollar ETF, UUP was up nicely for the week off of our bullish call two weeks ago.  This rally came off the bullish divergence between OP/price, and the oversold Technometer.
The Technometer is near neutral so we might see still higher.  We are up against previous support so natural area to turn back lower again.

We have just released a lower cost version of our Unleashed Course, which is an excellent value at $349.99.  Click Here
Are new “Pulse of The Market” charting software for Cryptocurrrencies is now showing consolidated volume from over 100+ 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 1025 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