Once again back into the middle of the recent range…

Todd Butterfield Week In Review Leave a Comment

This past week the Wyckoff Wave was lower for the week.  Early in the week the Wyckoff Wave was quietly trading sideways, then we saw some selling on Thursday because of weakness in IBM, and weakness on Friday from GE.  For the week, price and volume gave no major clues except we have once again fallen back into the middle of the recent range. The Technometer is trading at neutral. The S&P was up .5% …

Trying to break out of the range…

Todd Butterfield Week In Review Leave a Comment

This past week the Wyckoff Wave was higher for the week.  Early in the week the Wyckoff Wave was quietly trading sideways, then it spent the last portion of the week trying to extend its rally above the recent resistance.  Friday saw the Wave close out on a positive note for the week.  For the week, price and volume gave no clues. The Technometer is trading below neutral at Friday’s close. The S&P was up …

Dull at the top of the range…

Todd Butterfield Week In Review Leave a Comment

This past week the Wyckoff Wave was fractionally higher for the week.  Early in the week the Wyckoff Wave tried to break through the resistance at the top of the range and failed.  Then it tried to break through the most recent support at the 44,950 level and held once again.  Friday saw the Wave close out on a positive note for the week.  For the week, price and volume showed we had slight supply …

Still near the top of the trading range

Todd Butterfield Week In Review Leave a Comment

This past week the Wyckoff Wave was fractionally lower for the week.  After opening higher on Monday, it tested the previous weeks upthrust, and then traded slightly lower for the week.  Volume was slightly lower on Monday’s test and heavier on Thursday’s selloff.   Price and volume show some supply present. The Technometer is at oversold levels at Friday’s close. The S&P  was down .5% for the week while the Nasdaq was down over 2%. …

Still holding at the top of the trading range

Todd Butterfield Week In Review Leave a Comment

This past week the Wyckoff Wave was fractionally lower for the week.  After opening higher on Monday, it upthrusted the top of the range on Tuesday/Wednesday, then spent Thursday/Friday moving sideways in a narrow range.  Volume gave no strong clues.  Volume was not strong on Tuesday/Wednesday pullback which makes the Upthrust scenario suspect. The Technometer is at oversold levels at Friday’s close. The S&P  was .3% for the week while the Nasdaq was up 1.75%. …

Holding at the top of the trading range

Todd Butterfield Week In Review Leave a Comment

This past week the Wyckoff Wave was fractionally higher for the week.  After opening higher on Monday, it then spent the rest of the week trading in a narrow range. Volume was above normal levels Friday due to expiration. The Technometer is at overbought levels at Friday’s close. The S&P  was flat for the week while the Nasdaq was down almost 1%. The Wave began the week with a rally on Monday, then traded in a …