Wyckoff Wave Ready To Make Another Low And Turn Higher Once Again?

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

We were expecting a little more downside price action last week and we got that.

The Technometer is still neutral, so lets looks for a little lower early in the week.  We are right at the previous blue support level.  

The Technometer is neutral at 45.7.  


The Wave has been weaker then the OP.


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

We was also looking for a slight pullback here which occured.   Once again the Technometer is near neutral so lets look for that to get a little closer to oversold, before calling the correction over.   

The Technometer is nearing neutral at 45.8.  


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

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

Currently the Techometer is neutral at 44.9.  


The SPY had a sharp selloff on Friday on increased volume after a slow beginning to the week.

We was looking for a correction, and an oversold Technometer.   Monday we could make our expected low.   

We are near oversold on the Technometer at 39.6.  


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The bond market was slightly higher for the week.

It appears we are range bound and could work our way back to resistance.

The Technometer is neutral/0verbought at 47.4.


The GDX traded the week slighlty lower, on low volume.

We were expecting a low in the metals market, and we still think that is happening.  Let’s look for support to hold, and a turn higher.  

Technometer is oversold at 42.6.

The Wyckoff Wave Metal Index is in the same position as GDX.   The index is a little stronger than GDX thus the higher Techometer reading.

The Technometer is nearing overbought at 47.9.


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

We are looking for a top in the Dollar, but our Technometer is back to oversold.   We would like that to come off those levels, to be able to get aggressive short.

The Technometer is oversold with a reading of 38.3.


Bitcoin continues to underperform stocks to the downside.      

We expected lower here as well and our Technometers are 41-43 so lets let that get a little more oversold before we call for a short term low.

Our Technometer for Bitcoin is nearing oversold at 41.2. 



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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.

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Good Trading,

Todd Butterfield

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