Divergent Wednesday Rub Down
You can say a lot about today’s tape but it for sure wasn’t boring:
Zero Lite’s claim to fame today was the textbook double bottom including a gratutious divergence which I pointed out to my intrepid subs. Which was followed by a massive green monster lift off Houston style. Right now they’re flopping it around the 874 VWAP – if it holds it’ll be a base to launch this into our blue scenario tomorrow morning.
Program Trading Update:
geronimo/ES: -6.5 (early trade went bust – followed by a nice trade in the afternoon)
I’ll chime in a bit later today when I digested today’s tape a bit more.