Z Update

Yesterday when I posted Z Trade Set-up (swing+) looking for Z to bounce to the trendline or around the area where it was broken as we had both 3C positive divergences and a reversal process in place, I didn't expect it to happen in 30 minutes, but that's fundamental news and discounting...

 60 min Z chart at the target trendline...

And the intraday move over 30 minutes on news  that Zillow is looking to buy Trulia as soon as next week

This is one of those knee-jerk reactions that I am interested in, as in maybe a put, maybe a short, maybe a reassessment, but in either case it's going to take a little time for the knee-jerk to die down and smart money to decide how they feel about it because it's very likely that the positive divergences in yesterday's update were smart money clued in on the potential deal and the move today they are likely collecting on as smart money doesn't chase a stock 20% higher, they are usually in long before the move starts which is likely what we saw yesterday, Z Trade Set-up (swing+)