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.
The OP is slightly weaker than the Wave.
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.
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.
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.
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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.
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….
GDXJ we look for lower as well.
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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