Phoning It In Today

Forgive me for phoning it in today but I stayed up late last night fixing a few technical issues that sprung up, plus I’m running a few systems simulations today. Equities turned a bit into a hassle yesterday due to Yellen flapping her lips, however despite an instant stop run to the downside sentiment remained solidly bullish as evidenced by participation on our Zero chart.

For the uninitiated: The signal only briefly dipped below the zero mark during the sell off and quickly recovered. There was some profit taking EOS but nothing suggesting real fear. This is the second time we see this happening in one week and is definitely well worth nothing. The Zero often offers us valuable clues which are not apparent just looking at the price action. Also more often than not it is leading as opposed to lagging, and as such it stands unique in the sea of indicators that you’ll find in your favorite trading platform.

That’s right trade smart – trade Zero-Mart. By the way did any of you guys catch his new series ‘Ash vs Evil Dead‘? It’s absolutely brilliant and if you’re a fan of the original then you’re in for a treat. Well worth the three decade wait.

Alright – entries! I took out a small long position in the spoos a little earlier as the tape descended into that stack of short term NLSLs on the hourly. My stop is below 2106 which should keep the demons at bay in the coming hour or so. Although I may be stopped out I think we’re holding pretty nicely up here and any downside action will run into a series of hurdles – first on the hourly then on the daily.

I’ll chime in a bit later if I find anything juicy worth sharing.