The Wyckoff Wave Looks Still Higher For The Coming Week.

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The Wyckoff Wave closed nicely higher once again for the week, on low volume. 

We was wanting an another oversold Technometer before a resumption of the uptrend, but we was down Sunday night briefly, but spent the rest of the week rallying.

We expect further strength in the coming week, until the Technometer gets overbought.

The Technometer is currently at 46.8.  

WW Daily 11 13 22 LearnCrypto Powered By Wyckoff SMI 2022

 

The Wave and OP are moving in unison.  

WW intraday 11 13 22 LearnCrypto Powered By Wyckoff SMI 2022

 

WWN – The Wyckoff Wave New Index closed higher as well for the week, on average volume.   

We was looking for another good buy setup, before higher, but we continued higher right out of the gate.  We look for more strength as the Technometer is neutral.

Currently the Technometer is neutral at 44.1. 

WWN Daily 11 13 22 LearnCrypto Powered By Wyckoff SMI 2022

 

The Wyckoff Wave Growth Index was up for the week, on an increase in volume.  

We worked slightly lower early in the week, then turned higher on a deeply oversold Technometer as expected.  We look for still higher.

Currently the Techometer is neutral/overbought at 47.0.  

WWG Daily 11 13 22 LearnCrypto Powered By Wyckoff SMI 2022

 

The SPY was up for the week, on average volume. 

We was looking for slightly lower, then a return to higher prices, which we got.

We look for still higher as the Technometer is not overbought, as it is currently 46.5.  

SPY Daily 11 13 22 LearnCrypto Powered By Wyckoff SMI 2022

 

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The bond market had a nice rally on low volume as expected.   The Technometer was oversold, and is still, so we look for higher.  

Technometer is near oversold at 39.8.

TLT Daily 11 13 22 LearnCrypto Powered By Wyckoff SMI 2022

 

The Wyckoff Wave Metal Index was sharply higher for the week on large increase in volume.   We had said higher prices with a stop at the low, and that has worked.   

Looks like we could still work higher here as well. 

The Technometer is neutral/overbought at 46.0.

WWM Daily 11 13 22 LearnCrypto Powered By Wyckoff SMI 2022

 

The long dollar ETF, UUP was down sharply, on slight increase in volume.

We was looking for lower, and it appears we have made a top in the Dollar as expected.  Let’s look for continued weakness.

The Technometer is near neutral with a reading of 42.3.

UUP Daily 11 13 22 LearnCrypto Powered By Wyckoff SMI 2022

 

Bitcoin was down sharply for the week on a large increase in volume.  

Bitcoin was doing well until the FTX news rocked the market.   We did get an oversold Technometer on the selloff, so we could be experiencing a “spring” of the blue support line.   We need this market to test Wednesday’s low here and turn higher.   

Our Technometer for Bitcoin is neutral/oversold at 42.5.  BTC USD C 1D 2022.05.15 3 34 10 PM LearnCrypto Powered By Wyckoff SMI 2022

BTC Daily 11 13 22 LearnCrypto Powered By Wyckoff SMI 2022

 

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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

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