Wyckoff Wave Working Lower

Todd Butterfield Week In Review 0 Comments

The Wyckoff Wave was down for the week as expected.  Volume was at recent levels.

The O-P was also down for the week.

The Force Index was down for the week.

The Technometer is nearing oversold.

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The OP is weaker than the Wave.

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The Wyckoff Wave was down for the week, and price and volume action looks lower to us.

The Technometer was neutral and now nearing oversold.  We have a downtrend line in place and lets see if we can respect it.

We see lower prices at least early in the coming week.  Anxious to see how we trade, if the previous low from two weeks ago gives away.

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The Wyckoff Wave Growth Index (WWG) was down for the week as expected.

The Technometer is neutral, and gives us plenty of room for more negative price action.  Friday’s action puts the recent uptrend in jeopardy.  We expect still lower here.

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The SPY finished lower for the week.

The Technometer was above neutral, now nearing oversold.  We expect lower from here.

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We are still short stocks and looking for weakness to buy.  Join Here

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The bond market closed up for the week, in line with expectations.

Our Technometer was neutral coming into last week, and now still at those levels.

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

Our Technometer was at overbought coming into the week and still near those levels.

We could still see slightly higher prices here, but we are bearish metals in general….

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GDXJ has been much more sideways last few weeks, and our Technometer is neutral.  We are watching closely for the Technometer to register more to overbought for a short sell.

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

Volume has still not been impressive on the rally, so we are on the sidelines.

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IMPORTANT ANNOUNCEMENT:  We are close to launching a new version of our “Pulse of The Market” charting software for Cryptocurrrencies.  This software has consolidated volume for the Crypto’s which is utmost important when applying Wyckoff Technical Analysis.   We are showing this software in use on our social media sites. 

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.  https://www.patreon.com/LearnCrypto

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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