Wyckoff Wave Going To Extend Last Week’s Gains?

WW 1D 2022.02.27 5 24 38 PM 1024x619 1 LearnCrypto Powered By Wyckoff SMI 2022

The Wyckoff Wave traded lower for the week, after being sharply lower into Thursday’s sharp reversal higher, on average volume.

We have been bullish recently expecting more upside.   Last week’s action gave us a nother “spring”  of the recent trading range, and we continue to be bullish.

We would like to see a low volume consolidation now, and an important test of last week’s lows.   This will have us ready for upside price action thereafter.

Technometer is near oversold with a reading of 40.47.

WW 1D 2022.02.27 5 24 38 PM LearnCrypto Powered By Wyckoff SMI 2022

The OP and Wave are trading in unison.  

WW 5M 2022.02.27 5 25 46 PM LearnCrypto Powered By Wyckoff SMI 2022

The Wyckoff Wave Growth Index traded sharply lower on the news of the Russia invasion, but swiftly recouped those losses to end the week only down slightly.  Volume was average, but did increase on Thursday’s strong reversal to the upside.

We feel the WWG can continue higher this week, and we stay bullish.   Would like to see a low volume test of Thursday’s low, for a clear signal we are ready to resume upside action. 

Technometer is still near oversold with a reading of 40.56.  

WWG 1D 2022.02.27 3 01 42 PM LearnCrypto Powered By Wyckoff SMI 2022

The SPY closed the week slightly higher, on slightly higher volume as well. 

We were bullish to start the week, and did see persistent selling before the end of week reversal higher.   Thursday’s action looked like a strong spring of the previous months low, and we look for still higher, after a low volume test of that low. 

The Technometer is above neutral at a reading of 45.95.

SPY 1D 2022.02.27 3 02 37 PM LearnCrypto Powered By Wyckoff SMI 2022

If you want more current up to the minute updates and trades as shown above, please join our ProTraders/Private Stock Discord.  Join Here

If you are a Crypto Discord Member, and would like the ProTraders/Private Stock Discord as well, you can have access for only $20 a month.   Join Here

The bond market closed almost exactly flat for the week.  We still think this market can work higher in the weeks ahead. 

The Technometer is near neutral with a reading of 45.26.

TLT 1D 2022.02.27 3 03 05 PM LearnCrypto Powered By Wyckoff SMI 2022

The GDX closed the week slightly lower .  Volume was average on the week’s sideways trading action.

We think Precious Metals can still continue to rally, as we think the Dollar is making a top.

Technometer is near overbought with a reading of 49.10.

GDX 1D 2022.02.27 3 03 37 PM LearnCrypto Powered By Wyckoff SMI 2022

The long dollar ETF, UUP closed up for the week, after being strongly higher into Thursday’s Russia news.  Volume was light.

The action looks like a more important upthrust on Thursday’s news inspired rally, and we are bearish. 

The Technometer is overbought with a reading of 52.15.

UUP 1D 2022.02.27 3 04 07 PM LearnCrypto Powered By Wyckoff SMI 2022

Bitcoin also was down for the week in sympathy with the Nasdaq into Thursday’s reversal to risk-on assets.  It also experienced a strong rally to end the week.

We have showed some bullish divergences in blue and pink, and we stay bullish on Bitcoin. 

We also registered an oversold Technometer for Bitcoin on the selloff, and now we are at a neutral reading of 43.70.

BTC USD C 1D 2022.02.27 5 20 54 PM LearnCrypto Powered By Wyckoff SMI 2022

IMPORTANT ANNOUNCEMENT: 

We have just released a lower cost version of our Unleashed Course, which is an excellent value at $349.99.  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.  

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

Related Articles

Responses