We Think The Wyckoff Wave Can Continue Higher In The Coming Week.
The Wyckoff Wave closed down every so slightly, on low volume.
We still expect further strength in the coming week, until the Technometer gets to more clearly overbought.
The Technometer is currently at 48.9.
The OP is leading the Wave, which is what is taking the Technometer to near overbought.
WWN – The Wyckoff Wave New Index closed a hair higher, on low volume.
We still look for more strength as the Technometer is neutral.
Currently the Technometer is neutral at 44.6.
The Wyckoff Wave Growth Index was down slightly for the week, on lower volume.
Growth stocks are still underperforming here, but we think this market could still try higher before a deeper correction.
Currently the Techometer is neutral at 45.4.
The SPY was also down slightly for the week, on lower volume.
We look for still higher as the Technometer is neutral at 43.1.
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The bond market has a positive week as expected, on an increase in volume.
Technometer is now extreme overbought at 54.7, so lets look for a pullback.
The Wyckoff Wave Metal Index corrected its recent gains last week, on lower volume.
This market appears to be backing up to previous resistance. This market could still work higher from here.
The Technometer is neutral at 45.7.
The long dollar ETF, UUP was up slightly, on average volume.
We still look for lower in the Dollar here.
The Technometer is near neutral with a reading of 45.9.
Bitcoin has been trading quietly sideways, after the previous weeks sharp selloff, on much lower volume.
We need this market to test the previous low at $15,500 and turn quickly higher.
Our Technometer for Bitcoin is neutral/oversold at 42.2.
IMPORTANT ANNOUNCEMENTS:
We launched our WyckoffSMIChina.com site late March, for our China community. Check it out!
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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.
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Good Trading,
Todd Butterfield