Bigger Picture

Welcome to Open”s Interest for Thursday

(Setups and parameters are below)
This week”s Universe || Last Open”s Interest || Non-MJ Requests

That goes equally for Tuesday”s drop, as for Wednesday”s reaction to it. Tuesday”s shakeout was still settling Wednesday. 

ATTBF seemed hardly phased as it extended to and through its target. TAUG and TWMJF didn”t extend down any further, and can”t afford to. ERBB did extend down further, back to critical support. GWPH ended the session back in rally mode.One day does not a forecast make. 

There is no new coverage for Thursday. There is also no post-close Livedesk Unlimited this week. But we will have a regular morning Livedesk..

..
Enjoy!

Breakout
(consolidations or basing that is forming an accumulative pattern )

Up/Down-Crash
(extended trending with only 1-2 countertrend closes, ready to snap back)

Pullback Limit

(breakouts and bounces that have retraced 61.8%…

these situations are often make, or break)

Bottom Fish

(basing after extended decline — not really a “trade”)

(breakdown unconfirmed a 2nd day — only buy strength)

Third-day Surge

(2-day surge to fresh highs at risk of peaking — don”t chase higher)

Not a Charm

(third test of retested low, triangle — lower lows coming?)

Falling Knife

(trying to catch the reaction to a steep drop — ouch)

Rocket Launch

(sudden explosive interest that gains traction)

Monitoring

(observations of other stocks of interest)

Open”s Interest is the daily pre-open reference for marijuana stock patterns currently of interest, including other insights and overviews.

The machine I use for broadcasting Livedesk is having difficulty booting. My apologies, but we”ll need to delay its start by 15 minutes to 11:15 ET.

Livedesk at 11:00, at the following link. We”ll review all sector price action of interest, and then get to any chart requests time-permitting…
http://marketfy.com/product/marijuana-stock-technical-trade-alerts/livedesk/

Out of the woods? Some issues are. Some are not… ATTBF is surging to within a penny of its .51 target, and TRTC surging to within a penny of its .52-.53 resistance. GWPH”s opening dip was on news, and not a sign of distribution. TWMJF is finding buyers off of yesterday”s test of support. TAUG did something like that, bouncing into positive territory from the open”s blip-down, if only to challenge .0225 resistance. ERBB is dipping a little further this morning as was expected, and now needs to start finding its own buyers, too.

Welcome to Open”s Interest for Wednesday

(Setups and parameters are below)
This week”s Universe || Last Open”s Interest || Non-MJ Requests

ERBB”s recovery keeps running into the problem of too much enthusiasm. Another opening surge was quickly punished Tuesday. That punishment was exacerbated by the broader stock market reversing sharply from the morning”s new highs.

I noted this literal reversal of fortune during Tuesday”s last hour. My point was to forewarn that I was considering going to cash before the close. If I were to sell one position, then I would sell entirely. This would make sense if an extended downturn were beginning.

Ultimately, I decided to hold through at least Wednesday”s open. “Fatter” targets like GWPH and MDBX were still comfortably above supports that I would expect to be giving way if speculative fervor were crumbling.  April”s top was the product of over-extended and too few attractive MJ stocks — a top now would be due to MJ stocks other than GWPH that have yet to firmly establish uptrends.

More weakness is likely Wednesday morning, but a little wilting could still be recovered.

..
Enjoy!

Breakout
(consolidations or basing that is forming an accumulative pattern )

Up/Down-Crash
(extended trending with only 1-2 countertrend closes, ready to snap back)

Pullback Limit

(breakouts and bounces that have retraced 61.8%…

these situations are often make, or break)

Bottom Fish

(basing after extended decline — not really a “trade”)

(breakdown unconfirmed a 2nd day — only buy strength)

Third-day Surge

(2-day surge to fresh highs at risk of peaking — don”t chase higher)

Not a Charm

(third test of retested low, triangle — lower lows coming?)

Falling Knife

(trying to catch the reaction to a steep drop — ouch)

Rocket Launch

(sudden explosive interest that gains traction)

Monitoring

(observations of other stocks of interest)

Open”s Interest is the daily pre-open reference for marijuana stock patterns currently of interest, including other insights and overviews.