Wyckoff Wave Rolling Over Here?

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 near overbought.

This image has an empty alt attribute; its file name is WW-Daily-2-21-21-1024x619.png

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

This image has an empty alt attribute; its file name is WW-Intraday-2-21-21-1024x619.png

The Wyckoff Wave’s was higher for  the week.  We think stocks are rolling over here for a correction and we gave a sell Tuesday.  Volume has not been supportive on the recent rally so we are looking for more downside.

Our Technometer is near overbought so we are bearish here.

This image has an empty alt attribute; its file name is WW-Longer-Term-2-21-21-1024x619.png

Charts on a few ProTraders positions.  WE SOLD ARE LONG POSITIONS.

The Wyckoff Wave Growth Index (WWG) was lower last week as growth stocks are seeing some underperformance.

The Technometer is coming off overbought, and we see the recent uptrend as vulnerable.

This image has an empty alt attribute; its file name is WWG-daily-2-21-21-1024x619.png

The SPY finished the week slightly lower, and we are short from Tuesday’s sell signal.

The Technometer came off of extreme overbought, but is supportive of still further downside.

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

This image has an empty alt attribute; its file name is SPY-Daily-2-21-21-1024x619.png

The bond market was down sharply for the week with more new lows for the move.  If stocks do turn lower, we would expect a bid for bonds at least over the short term.

Our Technometer was oversold and has now bounced to overbought even with the selling coming in late in the week.   This action is perplexing here.  We are long some and will monitor this action closely.

This image has an empty alt attribute; its file name is TLT-Daily-2-21-21-1024x619.png

The GDX finished the week sharply down as expected.

We are short and expect still lower.  If stocks continue lower here, the precious metals miners could see sharp selling.

This image has an empty alt attribute; its file name is GDX-Daily-2-21-21-1024x619.png

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

The Technometer is near oversold, and you can see that over the last few weeks the OP has touched a new low while price is holding higher.  Possibly this will be enough to start another short covering rally.

This image has an empty alt attribute; its file name is UUP-Daily-2-21-21-1024x619.png

IMPORTANT ANNOUNCEMENT: 

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 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

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.