[Elecraft] KAT2 aligned and working but..

[JT Croteau]

So I just finished my KAT2 assembly and alignment.  I even just had a
nice QSO on 20M using my 40M dipole.  However, while the KAT2 reports
a nice 1.2:1 SWR and 5.6W POUT and 0.2 reflected, my external
wattmeter (Elecraft W1) is still showing a horrible match with the SWR
way off the scale.

Any ideas?

Thanks

-- 
JT Croteau, N1ESE - Manchester, NH (FN42gx)