Wyckoff Wave Tested The Support And Ready To Rally?

The Wyckoff Wave traded lower for the week.   Volume was higher on the selloff.
We wanted a little more selling to bring down our Technometer to oversold.   On Wednesday we did get a reading of 39 which is very close to an oversold reading.   We did bounce Thursday, and back and filled on Friday.   So we need the Wyckoff Wave to get back into the trading range and head back to the resistance of the recent blue range to keep the bullish scenario alive.
This image has an empty alt attribute; its file name is WW_1D-2021.12.05_5-55-19-PM-1024x557.png
The Wyckoff Wave and OP are trading in unison.
This image has an empty alt attribute; its file name is WW_5M-2021.12.05_5-58-05-PM-1024x557.png
The Wyckoff Wave Growth Index continued to slide lower all week.   We was wanting an oversold Technometer as we approached the blue support line of the uptrend.   The problem is the Technometer is neutral, and never gave us a solid oversold reading.   So we might find support here, but I just don’t have a high confidence trade.
Technometer is above neutral at a reading of 45.27.
This image has an empty alt attribute; its file name is WWG_1D-2021.12.05_5-51-03-PM-1024x557.png
The SPY closed lower for the week once again with volatility on the rise.   Volume was also higher last week after the holidays, as expected.
The Technometer was near oversold in the middle of the week, at a reading of 39.   It finished the week well off oversold, and price has not responded well to the upside.   I am friendly here as well for higher prices, but my level of conviction is low.
The Technometer is neutral at a reading of 43.4.
This image has an empty alt attribute; its file name is SPY_1D-2021.12.05_5-52-43-PM-1024x526.png
If you want more current up to the minute updates and trades as shown above, please join our ProTraders/Private Stock Discord.  Join Here
If you are a Crypto Discord Member, and would like the ProTraders/Private Stock Discord as well, you can have access for only $20 a month.   Join Here
The bond market was up strongly this week, as stocks sold off.   I still think this market is making a top and will turn down.  We have an overbought Technometer, and if stocks rally, bonds should decline sharply.
The Technometer is solid overbought, with a reading of 52.53.
This image has an empty alt attribute; its file name is TLT_1D-2021.12.05_5-53-20-PM-1024x526.png
The GDX closed the week lower.
The Technometer has been near oversold, but we have no divergences between OP/Price.   So once again we are staying on the sidelines until a high conviction trade appears.
Technometer is near oversold with a reading of 40.27.
This image has an empty alt attribute; its file name is GDX_1D-2021.12.05_5-53-45-PM-1024x526.png
The long dollar ETF, UUP closed flat for the week.  We continue to feel this market is making a top, but action has stayed bullish.   With the Technometer now oversold, we will stand aside.
The Technometer is oversold at a reading of 34.88.
This image has an empty alt attribute; its file name is UUP_1D-2021.12.05_5-54-11-PM-1024x526.png
We have just released a lower cost version of our Unleashed Course, which is an excellent value at $349.99.  Click Here
Our new “Pulse of The Market” charting software for Cryptocurrrencies is now showing consolidated volume from over 140+ 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 1029 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

Related Articles


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

ProTraders Announcement​

We moved our two subscriptions to a Discord channel

Now you can Join us on Discord Channel