The Wyckoff Wave Ready For A Correction.
The Wyckoff Wave finished the week higher once again, on low volume.
We now have an overbought Technometer and we expect a correction this coming week.
The Technometer is currently at 51.8.
The Wave is lagging the OP slightly to the upside.
WWN – The Wyckoff Wave New Index closed just slightly higher, on low volume.
Here as well we will look for a correction in the coming week.
Currently the Technometer is overbought at 54.6.
The Wyckoff Wave Growth Index closed last week higher on low volume.
We now look for a correction in Growth stocks as well in the coming week.
Currently the Techometer is overbought at 56.7.
The SPY was higher for the week, on low volume.
We was looking for slightly higher last week, then sideways to lower. Let’s look for sideways to lower now.
The Technometer is overbought at 53.1.
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The bond market was also higher once again for the week, on average volume. The bond market continues to show strength off of the October lows, which is impressive.
Technometer is still overbought at 54.5, so lets look for a small pullback.
The Wyckoff Wave Metal Index was nicely higher again, on low volume.
Technometer is overbought here as well, so lets look for a pullback in the coming week.
The Technometer is overbought at 51.6.
The long dollar ETF, UUP was down once again, on low volume.
We thought we could make a low somewhere down here, but the Technometer is not warning us of that as of yet. Let’s look for a little lower before a bounce.
The Technometer is neutral with a reading of 45.6.
Bitcoin was up slightly for the week as expected, on low volume.
We look for higher/sideways here, and will observe the Technometer to see when it registers overbought.
Our Technometer for Bitcoin is neutral at 45.2. 
IMPORTANT ANNOUNCEMENTS:
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Good Trading,
Todd Butterfield
