Melt Up Monday Rub Down
After the overnight ramp up a drop through WVAP was promptly exploited as yet another dip buying opportunity – all averages remain their highly flatulent disposition.
I do see a monster divergence but would warn everyone to not get their hopes up. A drop into the close might have been the start of something bearish but the pattern indicates that more upside may be ahead.
I think I showed you this chart before – we are right at that reversal line again. However, at this stage there is the possibility for a blow off top according to my wave count (previous thread), so be cautious.
Program Trading Update:
I do have a question for all subs and ex-subs: After laboring all weekend I did send out an email to everyone on my list about the progress that was made to turn the Zero into a trading signal further down the line. If you haven’t seen the post – I successfully implemented the Zero Lite in NinjaTrader 7 this weekend. Unfortunately I received only a handful of responses, and I wonder if the majority really cares. So, before I put a lot of time and energy into this, I would encourage you to make yourself heard.