Wyckoff Wave Ready To Resume Decline?

Todd Butterfield Week In Review 0 Comments

The Wyckoff Wave was higher for the week.  Volume was at slightly lower holiday levels.

The O-P was up slightly for the week.

The Force Index was also up slightly for the week.

The Technometer is nearing oversold.

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The OP is slightly weaker than the Wave.

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The Wyckoff Wave was up for the week, but closed well off the highs Thursday and Friday.  Volume was at low levels.

We had discussed Friday on our Discord that we could have done an Upthrust on Friday, and the action somewhat confirmed it late Friday.  Let’s see if more selling comes in Monday, as it will be needed to help confirm the upthrust.

The Technometer is nearing oversold.  We moved our downtrend lines to show Friday’s action, and we still are expecting a correction here.

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The Wyckoff Wave Growth Index (WWG) was up for the week against what we had expected.

The Technometer is now extreme overbought, so here we see a correction coming as well.

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The SPY finished higher for the week.

The Technometer neared overbought on Friday when we updated that we thought we could experience an upthrust.  This action is shown below with the purple trading range.   Let’s see if we see follow thru selling Monday.

We expect lower from here.

If you want more current up to the minute updates, please join our ProTraders/Private Discord.

We are still short stocks and looking for weakness to buy.  Join Here

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The bond market closed lower for the week, but we had expected further rally last week.

Our Technometer registered overbought late in the week so we must be careful with long positions here.

We still expect the TLT to continue to work somewhat higher as stocks continue to work lower.
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The GDX finished the week higher.

Our Technometer was near overbought and we established short positions for our Discord early Friday.

We are bearish metals here and expect lower….

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GDXJ we look for lower as well.

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The long dollar ETF, UUP was down slightly for the week.

Volume has still not been impressive on the rally, so we are still on the sidelines.

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IMPORTANT ANNOUNCEMENT:  We are close to launching a new version of our “Pulse of The Market” charting software for Cryptocurrrencies.  This software has consolidated volume for the Crypto’s which is utmost important when applying Wyckoff Technical Analysis.   We are showing this software in use on our social media sites. 

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.  https://www.patreon.com/LearnCrypto

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 1021 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

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