Friday Wrap Up

UPDATE Closing Bell: LOL – we actually closed 1 point and 8 cents positive on the SPX – that was hilarious! Told ya there would be a snap back rally! What I however did not count on was that there would be so little participation. So, I don’t trust this further than I can throw the average market maker.

The hourly Zero got faked out early in the morning when the tape turned on a dime but we got rewarded with a short VTA that took us all the way to 666 (if you took profits at that level). Intra-day the Zero Lite warned us about a divergence in momentum as shown on the right side of the chart. I immediately sent an alert to subscribers at 675 to go long and we took profits quickly at 682. Then we got a short VTA at the bottom but I think most subscribers ignored that one as I kept warning them about the flatline in the Zero Lite. I’d give the Zero Senior a C- today because of the whipsaw alerts (but it did give us a sustained drop to the bottom) and the Zero Lite a B+. Those divergence plays are something we didn’t get with the hourly version and I’m having a lot of fun picking those out.

I’ll be chiming in on Sunday, as usual. In the interim – enjoy your well deserved weekend. I leave you with this:

FYI – this was produced in 1979 – WAY ahead of its time.

Cheers!