The Wyckoff Wave was down for the week. Volume is still at extremely low levels.
The O-P was down for the week.
The Force Index was down for the week.
We was looking for continued sideways action, which is what we are getting.
The Technometer is now nearing oversold, so appears we will find support at the bottom of the recent trading range.
We expect a bounce early in the week….
The Wave and OP are trading in harmony.
In the larger picture we continue to see range bound trading. For the time being, it appears we can expect still more.
The Technometer is working towards oversold so we expect the support off of the “AR” will hold for now.
The Wyckoff Wave Growth Index (WWG) was down for the week as expected. Volume picked up slightly on the selloff.
We are on the sidelines looking for still lower, to reestablish some stock positions.
Technometer is neutral/overbought, and we would expect still lower in this correction.
The SPY finished the week with a four day selloff. Here as well we expect the correction to reach lower.
Technometer is near neutral, and allows for lower price action.
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The bond market was up for the week, after our Technometer neared friendly readings on Tuesday.
Our Technometer is now back to overbought, so I expect another correction and more sideways action.
The GDX finished the week down slightly.
Technometer is nearing ovesold again, but we are short and expecting more downside price action.
The long dollar ETF, UUP was up for the week as expected.
The Technometer is back to neutral, but we expect the dollar to get above the recent highs of last two weeks, then probably work sideways to lower and correct recent advance.
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