Wyckoff Wave Turning Down Again?

Todd Butterfield Week In Review 0 Comments

The Wyckoff Wave was up for the week.  Volume was at low levels.

The O-P was up for the week.

The Force Index was up for the week.

The Technometer is near overbought.

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The OP and Wave are in unison.

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The Wyckoff Wave was up early in the week, then sideways to end the week.  Volume was at low levels.

We have been expecting lower prices since our sells of Jun 3 and 5th.  Not much upside progress has been made by the Wave, but it has yet to turn down again.  We are still looking for a correction from these levels.

The Technometer was at overbought Thursday so this might be what will finally gets us moving to the downside.

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The Wyckoff Wave Growth Index (WWG) was down for the week, after Mondays strong upside reversal.  Fridays close looks week, and we expect sill lower prices.

The Technometer is above neutral and will allow more downside.

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The SPY finished slightly higher for the week.  We have been looking for a successful upthrust and test, but so far we are just holding at resistance.

The Technometer is still near overbought, so possibly we could have a more inportant upthrust this week.   We are looking for some type of correction here, and will be on the lookout for a possible sell entry.

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 slightly higher for the week as expected.

Our Technometer has been at overbought levels but did come off of extreme overbought during the week.   We have now had a sideways pattern form in last week, and we feel this will lead to further upside.

We expect the TLT to continue to work higher as stocks correct.
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The GDX finished the week higher.

Our Technometer is at overbought levels, and we are short with losses.

We are bearish metals here and expect lower….

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GDXJ Technometer is not as overbought as GDX.

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

Volume is lacklaster as well as price action, so we are on the sidelines looking for a long entry.

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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 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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