Wyckoff Wave still continuing in this sideways, low volatility range

Todd Butterfield Week In Review Leave a Comment

The Wyckoff Wave opened higher Monday, and then spent the rest of the week trading basically sideways.  Volume was slightly higher this week but still trading average levels.  Our work showed some supply still present. The Technometer spent the majority of the week trading below neutral near oversold, and closed there. The S&P was up approximately .75% for the week and the Nasdaq up over 1.5% for the week. The Wyckoff Wave spent the week …

Wyckof Wave has its lowest close since February 10th

Todd Butterfield Week In Review Leave a Comment

The Wyckoff Wave opened higher Monday, and stair stepped lower the rest of the weak.  For the week the Wave was down 750 points.  Volume was at normal low levels and showed supply present. The Technometer spent the majority of the week trading near neutral and finished the week slightly below neutral. The S&P and Nasdaq Indices were both down over 1% for the week. The Wyckoff Wave spent the week slowly working lower.  We …

Dull Sideways Action….

Todd Butterfield Week In Review Leave a Comment

The Wyckoff Wave opened lower Monday, then rallied into Wednesday before succumbing to a sharp reversal.  The Wave then spent Thursday/Friday trading sideways.  For the week the Wave was up slightly.   Volume gave no strong clues during the week, but showed supply still present. The Technometer spent the week trading near neutral and finished Friday slightly below neutral. The S&P and Nasdaq Indices were both down slighlty for the week. The Wyckoff Wave spent …

Wyckoff Wave Still In The Midst Of A Correction

Todd Butterfield Week In Review Leave a Comment

The Wyckoff Wave opened Monday sharply lower, then rallied into Thursday, before succumbing to a selloff on Friday.  For the week the Wave was up slightly.   Volume gave no strong clues during the week, but showed some supply still present. The Technometer spent the week trading near neutral and finished Friday slightly above neutral. Volatility picked up on Monday’s selloff and then settled back down to close slightly lower for the week.  VIX closed …

Wyckoff Wave Continues Its Correction

Todd Butterfield Week In Review Leave a Comment

The Wyckoff Wave spent the past week extending its correction of the last month.  Volume increased on the selloff and shows supply present. The Technometer spent the week trading near neutral and finished Friday slightly below neutral. Volatility picked up slightly and is at the high end of the range for the last year or so.  VIX closed the weak at $12.96. The S&P and Nasdaq Indices were both down appoximately 1.4% for the week. …

Wyckoff Wave Trading in a Narrow Range

Todd Butterfield Week In Review Leave a Comment

The Wyckoff Wave spent the past week trading sideways with very little movement, and closing slightly lower for the week.   The price and volume relationship shows supply still present.  It was not dominant, but still present. The Technometer was nearing oversold early in the week, but now back to above a neutral reading.    Any further rally in the Wave, will take the Technometer to overbought quickly. Volatility has not picked up, and we …

Reaction Continues

Todd Butterfield Week In Review Leave a Comment

The Wyckoff Wave continued the reaction that began the week before.  It did not make much downside progress, but a continued slight correction nonetheless.   The price and volume relationship shows supply still present. The Technometer was extremely overbought a week and a half ago, but with volume coming in on the downside on this reaction, it has brought the Technometer back to below a neutral reading.  It currently sits at 40.10, with a reading …

Reaction Off The Highs

Todd Butterfield Week In Review Leave a Comment

The Wyckoff Wave spent the first two days of last week trading in a narrow range, until Wednesday’s strong rally to point J.  Then it proceeded to give up some of the gains at the end of the week.  Volume was slightly higher on Wednesday’s rally, but still not coming in strongly. The Technometer was extremely overbought going into Wednesday’s rally and possibly helped stop the rally from materializing into much more than a one …

Wyckoff Wave Taking A Breather At New Highs

Todd Butterfield Week In Review Leave a Comment

The Wyckoff Wave spent last week digesting the gains of the previous three weeks, and closed slightly higher.  Volume has not increased noticeably on this rally, but the Wave continues to try and grind higher. The Technometer is still registering an overbought level, after trading at a dangerously overbought reading early in the week.  This should continue to make it hard to extend the advance much higher from these levels. Volatility has continued to contract, …

Wyckoff Wave Rallies To A New High

Todd Butterfield Week In Review Leave a Comment

The Wyckoff Wave spent the first half of last week rallying to a new high above the previous resistance of the preceding two months. Volume did not increase noticeably, but stayed at recent average levels.  The rally of last week caught us by surprise, as we was not expecting a move to a new high at this time. The Technometer is now registering a dangerously overbought level, and should make it harder to extend the …

Continued sideways action at the top of the range

Todd Butterfield Week In Review Leave a Comment

We have continued to look for a further reaction on these weekly updates.  Instead it has been a mostly sideways affair, with the S&P and Nasdaq continuing to slowly make new highs for the move.  The last few months action has been extremely slow and with low volatility.  The S&P hasn’t had a 1% intraday move since December 14th.  This is the longest period of intraday calm in history. This last week we once again …

Expecting Continued Reaction…

Todd Butterfield Week In Review Leave a Comment

The last few months we have seen low volatility with almost no net movement.  We have continued to look for a further reaction on these weekly updates.  Today’s report will be no different.  This last week we had a minor pullback Monday, then basically sideways action the rest of the week.  Volume has given us no extra clues as well.  We are trading right below the resistance level of the recent trading range, and still …