Wyckoff Stock Market Institute

09/21/2026

📊 SPY & QQQ Bounce From Backup — Can Buyers Keep Control?

This week’s WyckoffSMI Week In Review is out.

SPY and QQQ both found support around their Wyckoff Backup (BU) areas following Wednesday’s late selloff and are now attempting to turn higher.

The question is whether buyers can generate enough follow-through to keep the move going.

Here’s what we’re watching:

📈 SPY — Caught support at the BU area. As long as Wednesday’s low holds, we’re looking for an attempt higher.

💻 QQQ — Also bounced from its BU levels. We’re looking for additional upside, with 700 remaining critical support.

🏦 TLT — Slightly higher for the week, but we still see no convincing signs of a major bottom.

💵 U.S. Dollar — Rallied solidly as expected. We continue looking for higher.

🥇 GDX — Slightly lower. We can still see sideways-to-lower action in the week ahead.

⚡ XLE — Fired a BU Wednesday and continues to show a constructive longer-term structure.

₿ Bitcoin & Ethereum — Both surged following the Fed meeting, but their Technometers are now overbought. We’ll be watching for another correction to develop.

📊 Market Health Score: 47
Trend: Range / Mixed
Confirmation: Mixed
Regime: Defensive / Weakening

🏆 Sector Leadership: ARKK • SMH • XLK

The Backup setups worked. Now we need follow-through.

👉 Read the full WyckoffSMI Week In Review for our complete market outlook.

https://wyckoffsmi.com/%f0%9f%93%88-wyckoff-smi-week-in-review-sept-20th-2026/

We don’t follow the market. We study it.

📋 Market ScoreCard Symbol Trend WyckoffSMI View SPY Range / Constructive Caught support after Wednesday’s late selloff and is attempting to rally from the BU…

09/13/2026

📊 SPY Tests Critical Support — Will Buyers Respond?

SPY continues to work lower into the $760 Backup zone we've been watching.

Our Wyckoff Technometer is once again oversold near 38, which should give the market an opportunity to rally. Now we need to see buyers respond.

If they don't, that failure would be important—and could signal that a deeper correction is unfolding.

A few things we're watching this week:

• SPY — Testing critical support with an oversold Technometer.
• QQQ — Trading sideways/lower and looking for an upside response alongside SPY.
• TLT — Continues trending lower as expected. No convincing bottom yet.
• U.S. Dollar — Testing the area we need to hold for our bullish outlook.
• GDX — Holding most of its recent gains, but we'd prefer another pullback.
• XLE — Continues higher and remains a market leader.
• Bitcoin & Ethereum — Near the lower end of their recent ranges. We're watching for additional Wyckoff Backup opportunities.

📊 Market Health Score: 46

Health: Weakening
Ex*****on: Low
Confirmation: Weak
Regime: Defensive / Weakening
🏆 Sector Leadership: XLE • SMH • XLK

This is a key decision point.

The market is oversold and sitting at support. Now buyers need to prove they're still there.

👉 Read this week's full WyckoffSMI Week In Review.

https://wyckoffsmi.com/%f0%9f%93%88-wyckoff-smi-week-in-review-sept-13th-2026/

We don't follow the market. We study it.

📋 Market ScoreCard Symbol Trend WyckoffSMI View SPY Range / Testing Support Trading into the $760 Backup zone. Technometer is oversold near 38, giving SPY…

08/30/2026

📊 WyckoffSMI Week In Review | August 30, 2026

Stocks Test Support — Will The Bullish Divergence Hold?

Last week, we highlighted an oversold Technometer reading in SPY. That setup produced the rally we expected—but Friday's downside reversal makes this coming week important.

📈 SPY — We now have a short-term bullish price/volume divergence. Last week's lows need to hold if we're going to make another run toward new highs.

💻 QQQ — Rallied after our Wyckoff Alert Engine fired two BU (Backup) signals. Now we're watching for support following Friday's reversal.

🏦 TLT — Finished higher for the week but reversed sharply Friday. We continue looking for lower bond prices.

💵 U.S. Dollar — Strong rally last week. We remain long and continue looking for higher.

🥇 GDX — Reversed sharply lower Friday on increased volume. We expect additional weakness in the coming week.

⚡ XLE — Price action remains constructive. Our Alert Engine fired a JAC above $60, and we're watching for a potential BU on a low-volume pullback.

₿ Bitcoin & Ethereum — Both finished slightly higher. We'd like to see a controlled pullback so we can evaluate the strength of underlying demand.

📊 Market Health Score: 51
Confirmation: Strong
Regime: Transition / Selective Bullish

🏆 Sector Leadership: GDX, IBB, IGV
👀 Emerging: XLC

The setup is straightforward: Can buyers successfully defend support and turn SPY and QQQ higher again?

That's what we'll be watching this week.

👉 Read the full WyckoffSMI Week In Review for our complete market outlook.

We don't follow the market. We study it.

https://wyckoffsmi.com/%f0%9f%93%88-wyckoff-smi-week-in-review-august-30th-2026/

📋 Market ScoreCard Symbol Trend WyckoffSMI View SPY Range / Constructive Rallied from last week’s oversold Technometer reading as expected. Short-term bullish price/volume divergence remains,…

08/24/2026

📊 **WyckoffSMI Week In Review | August 23, 2026**

**Stocks Test Support As Institutional Signals Turn Constructive**

Last week, the short-term market top we warned about on August 13 played out almost exactly as expected.

SPY corrected toward the **$760 support area** we were watching—and our Technometer has now reached an **oversold 36.08**.

Now the question becomes: **Does support hold and launch the next move higher?**

This week's highlights:

📉 SPY completed the expected short-term correction
📊 QQQ triggered a **Wyckoff Backup (BU)** signal Thursday
🏦 TLT's Fed-driven rally failed—we still favor lower bond prices
🥇 Precious metals surged, but we're not chasing the rally
⚡ XLE reached new highs and remains a longer-term favorite
₿ Bitcoin & Ethereum surged on the debasement trade

📊 **Market Health Score: 57**
**Trend:** Trending Up
**Confirmation:** Strong
**Regime:** Transition / Selective Bullish

🏆 **Leadership:** GDX, IBB, ARKK
👀 **Emerging:** XLB

The correction we were looking for arrived.

**Now we're watching institutional signals to determine whether the next move is higher.**

👉 Read the full WyckoffSMI Week In Review.

https://wyckoffsmi.com/%f0%9f%93%88-wyckoff-smi-week-in-review-august-23th-2026/

📋 Market ScoreCard Symbol Trend WyckoffSMI View SPY Bullish / Testing Support Our August 13 short-term top call worked well. SPY corrected back toward prior…

08/16/2026

📊 **WyckoffSMI Week In Review | August 16, 2026**

**Stocks Reach New Highs, But Is Another Correction Brewing?**

Stocks continued their rally this week, with **SPY reaching new highs** after the bullish price/volume divergence we highlighted two weeks ago.

That divergence did exactly what we expected. Now the question is whether much of that upside has already been spent.

📈 **SPY** pushed to new highs, but we're watching closely for signs that another corrective phase could be developing.

💻 **QQQ** continued its rally but remains relatively weaker than SPY. We expect more backing and filling.

🏦 **TLT** remains under pressure. We remain short and continue looking for lower bond prices.

💵 **The U.S. Dollar** continues probing the downside, but we believe a low could still be forming around current levels.

🥇 **Precious Metals** have rallied sharply over the past two weeks. We were looking for a low but never received the entry we wanted—so we're not chasing the move.

⚡ **Energy (XLE)** delivered another strong week. We remain long and continue looking for higher prices.

₿ **Bitcoin** traded lower and remains defensive. We're staying on the sidelines while waiting for a low-risk, high-confidence entry.

📊 **Wyckoff Market Health Dashboard**
• Market Health Score: **52**
• Health: **Neutral / Improving**
• Confirmation: **Strong**
• Condition: **Stabilizing / Improving**
• Regime: **Transition / Selective Bullish**

🏆 **Current Sector Leadership**
• GDX — Gold Miners
• IGV — Software
• ARKK — Innovation / Growth

The market has improved, but **selectivity still matters**.

The bullish divergence gave us the rally. Now we'll let institutional money flow tell us whether the next move is another leg higher—or the beginning of another correction.

**We don't follow the market. We study it.**

👉 Read the full **WyckoffSMI Week In Review** for our complete market outlook.

https://wyckoffsmi.com/%f0%9f%93%88-wyckoff-smi-week-in-review-august-16th-2026/

📋 Market ScoreCard SPY Bullish / Improving Rally from our earlier buy divergence carried SPY to new highs; watching for another corrective phase. QQQ Range…

08/02/2026

Correction Continues As Early Signs Of Stabilization Begin To Emerge

Another week reinforced a familiar message: the market continues correcting, but we're beginning to see a few constructive clues beneath the surface.

📊 This week's highlights:

• SPY remains in a 10-week corrective trading range, but Wednesday's bullish price/volume divergence is worth watching.

• QQQ rebounded sharply from oversold conditions, though we don't believe a major low has been confirmed.

• TLT continued lower following the Fed meeting, reinforcing our higher interest rate outlook.

• The U.S. Dollar pulled back more than expected, but we're still watching for support and a potential move higher.

• Energy (XLE) remains one of the market's strongest leadership groups.

• Bitcoin and Ethereum continue consolidating while we wait for a high-confidence institutional buy setup.

Current institutional leadership:

📈 Financials (XLF)

📈 Health Care (XLV)

📈 Regional Banks (KRE)

The takeaway?

Not every bounce marks a bottom.

In markets like these, discipline, patience, and following institutional money matter far more than chasing short-term moves.

👉 Our full WyckoffSMI Week In Review is now available.

https://wyckoffsmi.com/%f0%9f%93%88-wyckoff-smi-week-in-review-august-2nd-2026/

We don't follow the market. We study it.

📋 Market ScoreCard Symbol Trend WyckoffSMI View SPY Range / Mixed Sideways correction continues, with a bullish price/volume divergence developing. QQQ Weakening Oversold bounce after…

07/26/2026

Correction Continues As Energy Leads And Crypto Begins To Stir

https://wyckoffsmi.com/%f0%9f%93%88-wyckoff-smi-week-in-review-july-26th-2026/

Another week reinforced what we've been discussing for several weeks: institutional money continues rotating while the broader market remains under pressure.

📊 This week's highlights:
• Stocks continued their corrective phase, with QQQ closing at its lowest level in over 10 weeks.
• TLT continued stair-stepping lower, reinforcing our higher interest rate outlook.
• The U.S. Dollar advanced as expected and we continue looking for higher prices.
• Precious metals staged a relief rally, but we're waiting for confirmation that a durable low is in place.
• Energy (XLE) continues to outperform and remains one of the market's strongest leadership groups.
• Bitcoin and Ethereum generated recent Wyckoff Backup (BU) signals, suggesting institutional accumulation may be quietly developing.

Current institutional leadership:
📈 Energy (XLE)
📈 Real Estate (XLRE)
📈 Utilities (XLU)

The message remains the same:

Stay patient. Stay selective. Follow institutional money—not emotions.

👉 Our full WyckoffSMI Week In Review is now available.

We don't follow the market. We study it.

07/12/2026

📊 WyckoffSMI Week In Review – July 12, 2026

https://wyckoffsmi.com/%f0%9f%93%88-wyckoff-smi-week-in-review-july-12th-2026/

Another week, another reminder that markets don't have to move much in price to continue correcting.

Here's what stood out this week:

📈 Stocks remained range-bound as the correction continues through time rather than price.

📉 TLT continued lower, reinforcing our outlook for higher interest rates.

💵 The U.S. Dollar appears to be completing a Wyckoff Backup (BU) before another move higher.

🥇 Precious metals weakened again and, although oversold, we continue to expect the larger downtrend to remain in place.

⚡ Energy (XLE) continued showing relative strength, and we remain constructive on the sector over the longer term.

₿ Bitcoin continues consolidating. We're staying patient while waiting for a higher-probability institutional entry.

📊 Current Leadership
✔️ Biotechnology (IBB)
✔️ Equal Weight Biotech (XBI)
✔️ Materials (XLB)

The message hasn't changed:

Stay selective. Manage risk. Follow institutional money—not emotions.

👉 Read our full WyckoffSMI Week In Review for a complete breakdown of the markets.

📋 Market ScoreCard Symbol Trend WyckoffSMI View SPY Range / Corrective Sideways consolidation continues as the market works through a correction. QQQ Range / Mixed…

06/21/2026

📊 **WyckoffSMI Week In Review – June 21, 2026**

Another week where the major indexes held up, but the story underneath the surface remains very different.

This week:

📈 Stocks moved slightly higher
💵 Dollar continued strengthening
📉 Precious metals remain under pressure
⚡ Energy pulled back but we remain bullish long term
₿ Bitcoin's overbought sell signal continues to work
📊 Market Health Score remains in a Defensive / Weakening regime

We're also seeing improving action in:
✔️ Industrials (XLI)
✔️ Regional Banks (KRE)
✔️ Biotech (XBI)
✔️ Aerospace & Defense (ITA)

The message remains simple:

Stay selective.
Manage risk.
Follow institutional money flow.

👉 Full Week In Review available now at WyckoffSMI.

https://wyckoffsmi.com/%f0%9f%93%88-wyckoff-smi-week-in-review-june-21th-2026/

📋 Market ScoreCard Symbol Trend WyckoffSMI View SPY Corrective Sideways-to-higher week, correction still underway QQQ Corrective Technology remains leadership but momentum is slowing TLT Neutral/Bearish…

05/31/2026

Technology Leads While Market Internals Continue to Deteriorate

📋 Market ScoreCard 🧮 Wyckoff Market Health Dashboard Market Health Score: 50 The Market Health Score improved slightly from last week but remains firmly inside…