Zero Wrap Up
Zero Wrap Up
Today was a pretty good day for the Zero despite the intra-day whipsaw:
We got a solid long VTA which remained active even through the drop down to 705. I think the addition of the Zero Lite probably helped a lot of folks take profits at the top. If you look carefully you can see another divergence in that the price pushes up once more but the Zero signal is already pointing down. Of course at that point you have to get in right away – and you don’t know if it busts higher. That’s why RLs, fibs, and good old TA (not tits & ass – technical analysis) are helpful in identifying resistance/support zones. And that’s why you step in – the Zero just confirms your position as the signal degrades.
I’ll chime in later today once I pour over my charts a bit more. I think it looks bad for the bulls right now, but this might not have been it just yet.
