Bigger Picture

Another open, another new high! S&Ps are indicated to gap up just above yesterday”s range. But not by a lot. Dipping quickly back into the range without recovering even quicker could change the sentiment 180 degrees — at least to retest yesterday”s lows. Actually launching a new downleg remains to be seen. I”ll add post-open observations to this thread in the Activity Feed.

REMINDER: JOIN US FOR THIS AFTERNOON”S LIVEDESK UNLIMITED AT 4:30PM ET.

Following is the summary of comments for stocks reviewed during this morning”s Livedesk, available at this link:
http://new.livestream.com/accounts/7617211/events/2865745

EAPH — Big volume failed to trigger Ascending Triangle, turning it bearish.
TAUG — Didn”t immediately recover .038, so now must recover .0425.
BRDT — Any impact from being in Israel during the current events?
EDXC — Closing in on the targeted nickel handle.
ERBB — Fresh lows, can”t be bullish without recovering .0225.
GBLX — Not holding 1.20 now makes 1.08 likely pullback target.
MDBX — Fresh lows, much lower targets in-play.
FITX — Negative story driving intraday loss, which could be bullish if .0475-.049 prior low holds.
VPOR — Example of 61.8% retracement recovering 38.2% and failing.
NTRR — Needs to hold .25 area AND react up sharply to avoid new lows.
TRTC — Fresh low making .403 support likelier to break and to target sub-.30.
ATTBF — Defending support isn”t a good time for volume and volatility to evaporate.
VAPE — Despite immediately retracing yesterday”s last-minute drop, the drop”s low is being retested.
SPRWF — Lack of strength today confirms more consolidation needed.
CARA — Still no room for downticks or time for further hesitation before rallying.
AGTK — The time to reject its recent support break may have passed.
ENRT — Fresh low this morning makes .14 recovery that much more necessary without delay to confirm pullback is done.
MJMD — Extended consolidation now almost literally exploding higher to resume rally.
STEV — 61.8% retracement being recovered to 38.2% resistance, so any higher would trigger new upleg.
NVLX — The open immediately retraced yesterday”s last segment of the drop, but closing above .30 would be bullish and under .28 would make .225”s test likely.
S, BTU, CHK and EMC were requested, too.

Meet me at 10:45 at the following link for this morning”s Livedesk:
http://marketfy.com/product/marijuana-stock-technical-trade-alerts/livedesk/

We”ll review opening action among MJ stocks, and then analyze any stock charts upon request.

The video I uploaded yesterday points out that the MJ sector is on the precipice of either entering a tougher environment (measured in weeks, not in months), unless this week”s dips are rejected today. Good news for the industry from Oregon is just the sort of catalyst to produce the latter scenario. Indeed, we should be very concerned if it doesn”t ignite interest through the morning. But we should also be concerned — even more so — if a morning rally were to fizzle through the afternoon.

The video is alphabetical if you want to scroll forward to a specific stock. I”ll add my observations of post-open price action to this post”s thread in the Activity Feed. And we”ll have a morning Livedesk to review relevant levels and your stock requests.

Enjoy!

First of all, I immediately threw the microphone in the trash after hearing the first seconds of this video. Sorry, but I already had used it for the entire presentation.

Secondly, following are the 28 stocks in the order that I covered them. Many closes Tuesday were on the precipice — not for a bear market or crash, but vulnerable to extending their pullbacks to the next lower level. Being “on the precipice” can cut either way, and rallying immediately Wednesday would instead launch the sector”s next upleg.

Finally, if you would like elaboration or more discussion, please join us for Wednesday morning”s Livedesk, or for Thursday”s post-close Livedesk Unlimited. I”ll post comments and observations pre-open and post-open in the Activity Feed.

AERO
AGTK
ATTBF
BRDT
CANN
CARA
EAPH
EDXC
ENRT
ERBB
FITX
FSPM
GBLX
GWPH
MCIG
MDBX
MINE
MJMD
NTRR
NVLX
REDG
SPRWF
STEV
TAUG
TRTC
TWMJF
VAPE
VPOR