Thursday Wrap Up

Surprisingly, this was a good day for the Primary Zero:

However, the point can be made that most of us probably expected a whipsaw event and did not take that first long ETA. The Zero Lite was extremely thin today – that’s why I always tell you guys to actually look at the signal value. Okay, let me put it this way:

This might demonstrate the concept of scale to some of you brain damaged rats 😉

Either way – we busted higher on fumes – a situation I think will be instantly remedied around the 881 mark.

Very notable is the distinct divergence in the last 20 minutes of today’s tape. It’s highlighted above in the first chart. Great signal to get the heck out – assuming you were crazy enough to ride this one up.

There is really not much new to report on the wave count front. Blue is dead – long live glowing Orange. We will have to wait for Monday to see some participation confirm whether or not this uptrend is running out of steam. Today’s melt up is yet another warning sign to anyone too trigger happy on declaring the bulls dead and done.

BTW, where are all those guys who were giving me hell about two weeks ago, suggesting that we’ll see 666 broken in a matter of days? 😉 Yeah yeah – sometimes I feel like rubbing it in – hehe.