Bigger Picture

ATTBF — The only concern about the close was that it basically returned to the morning”s highs. So the entire afternoon was spent ranging narrowly around my resistance, instead of closing above it decisively. Follow-through tomorrow is likely, but be careful if it were to dip back under 1.57.

I want to thank everyone again for being so welcoming on our first live day. I”m getting a feel for the various forms of communication available, and we”ll need to address which is appropriate for what, and vice-versa.

We”ll also be focusing on making trading decisions. The entire point to this technical approach is to know in advance what price levels are relevant, and that everything else is noise. But price can”t inform our decision without having a strategy to filter it.

Meanwhile, the spectacular moves keep coming. I”m not sure some of it isn”t money rotating among various segments of the sector. But I”m quite sure a lot of it is new capital coming into the sector as a whole.We all owe Alan much for increasing the sector”s transparency and investors” confidence along with it.

We”ll have the other half of initial coverage available overnight. Existing coverage will also be updated where price action merits it (that”s a lot). I would like to start at least a weekly live review, something like Wednesday evening, or both Monday and Thursday evenings.

Keep your feedback coming…

    -=RD

If you used the Marketfy platform to message me since Saturday, you might not yet have gotten a reply. With the launch being a little bigger than anticipated, I”ve had to prioritize, and I”ve been working through categories of questions, like order placement technique, and analytical methods.

If you messaged any sort of customer service question — about your subscription, access, configuration, etc. — then I will be forwarding those to Marketfy support. Alternatively, you may want to contact them with the chat pop-up, or call their toll-free number listed at the bottom of most pages.

So, thank you for your patience. I”m really proud to be associated with your community, so please be confident that your message is being addressed.

P.S. The other half of the initial stock coverage will be uploaded tonight. Existing charts will be reassessed.

Now that 1.48-1.57 is being tested intraday, the
close must exceed it, or else suddenly there will significant risk of at
least beginning a corrective decline.

Take note of this parameter. Understand it. 

1.48-1.57 is a relevant calculation from the pattern already developing. It is essentially a target, where some degree of buying pressure is fulfilled. Closing above it would suggest that pattern”s higher potential targets were going to be put into play. Perhaps some other less dominant patterns would also be playing out.

But testing 1.48-1.57 intraday and closing back under it would at least require any new upleg to be delayed by a corrective dip or some other consolidation or hesitation — during which time the stock becomes much more vulnerable to extending down.

Great morning for PHOT. It is testing resistance at 73 cents. Meanwhile, this is the second consecutive day of surging. If this is a three-day surge pattern — which we never know until day-three, it”s just a reason to consider holding long — then this resistance won”t hold. Regardless, the next higher resistance is 80-81 cents. There is meanwhile room down to 65 cents without yet even beginning to reverse momentum down.