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 …

Trading range still in effect…

Todd Butterfield Week In Review Leave a Comment

This past week the Wyckoff Wave closed almost unchanged for the week.  Volume was at normal average levels and gave no clues. The Technometer is trading at neutral levels at Friday’s close. The S&P was down approximately .3% for the week and the Nasdaq was down 1.55% after a sharp reversal Friday. The Wave began the week with the selloff we was expecting off of the top of the resistance of the recent trading range. …

Expecting continued trading range…

Todd Butterfield Week In Review Leave a Comment

This past week the Wyckoff Wave extended its advance off of the Spring of the support level of “M” and “O” and back near the resistance line of the recent trading range.    Volume was back to more normal levels and showed some demand present. The Technometer is nearing an overbought condition on the rally. The S&P was up approximately 1.0% for the week and the Nasdaq was up  1.5%. After experiencing a spring off …

Test of the Spring?

Todd Butterfield Week In Review Leave a Comment

This past week the Wyckoff Wave extended its advance off of the Spring of the support level of “M” and “O”.    Volume contracted as the rally progressed. The Technometer is nearing an overbought condition on the rally. The S&P was up approximately 1.4% for the week and the Nasdaq was up  2%. After experiencing a spring off of the recent trading range support level, the Wyckoff Wave continued its advance last week.  The rally …

Spring of the trading range

Todd Butterfield Week In Review Leave a Comment

The Wyckoff Wave experienced a sharp sell off into late Wednesday/early Thursday, and then finished the week recovering some of the losses.  For the week we closed lower on an increase in volume, which shows supply was present. The Technometer registered an oversold reading on the selloff. The S&P was down approximately .4% for the week and the Nasdaq was down  .6%. The Wyckoff Wave had a quick selloff thru the support of the recent …

Dull Sideways Action Continues

Todd Butterfield Week In Review Leave a Comment

The Wyckoff Wave spent another week moving sideways to slightly lower.  Volume was lethargic as well.  Our indicators show slight supply present. The Technometer spent the week trading neutral. The S&P was down approximately .5% for the week and the Nasdaq up over .3% for the week. The Wyckoff Wave spent the week drifting slightly lower.  We have been in the midst of a correction with no indications yet of leaving the trading range in …

Wyckoff Wave drifting…

Todd Butterfield Week In Review Leave a Comment

The Wyckoff Wave spent the majority of the week drifting lower before a slight recovery on Friday.  Volume was slightly lower for the week. Our indicators show slight supply present. The Technometer spent the week trading near oversold/neutral. The S&P was up approximately .7% for the week and the Nasdaq up over .9% for the week. The Wyckoff Wave spent the week drifting slightly lower.  We have been in the midst of a correction with …