Wyckoff Wave Ready To Turn Lower?

Todd Butterfield Week In Review 0 Comments

The Wyckoff Wave was up slightly for the week.  Volume was lower.

The O-P was also for the week.

The Force Index was up for the week.

The Technometer is overbought.

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

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The Wyckoff Wave’s was higher for  the week as expected.  We are still expecting a short term top soon.  Volume has not been supportive of the recent move up in our general market indices.

Our Technometer is near overbought so we expect a short term high soon.

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Charts on a few ProTraders positions.

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 once again as expected.  We are at new highs but still expecting to take profits soon.

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TRIP closed near the highs but has slowed its ascent.  We will be looking to take profits soon.

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The Wyckoff Wave Growth Index (WWG) was lower last week as some selling came into the some of the growth names.

The Technometer is at overbought levels, so we still think this market is tired.

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The SPY finished the week higher as well.

The Technometer is extreme overbought, and warning of an impending correction.

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

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The bond market was down once again for the week with new lows for the move.

Our Technometer is still not oversold so we expect some more selling before looking for a bounce.

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The GDX finished the up ever so slight.

We are short and was expecting a sharp markdown from here.  The Technometer was oversold, and has now returned to overbought as marked by the blue circle.  Let’s see if this market can rollover again now.

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

The Technometer is near neutral, and we have mixed feelings here.  We still expect a large bounce soon, but we might see a minor new low before that occurs.

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IMPORTANT ANNOUNCEMENT: 

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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 1023 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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