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Good afternoon! The market”s recovery – If, Then… Market Timing

Good afternoon! The market”s recovery

By Rod David | July 18, 2014 - 1:22 pm

Good afternoon! The market”s recovery has extended, but stopped short of recovery the origin of yesterday afternoon”s downleg. That”s not optimal, and a downdraft wouldn”t be surprising, although that would be problematic to extending the recovery. New session highs today would be likelier sooner rather than later… Following are individual stock observations from earlier today:

GWPH — Rallying sharply off of yesterday”s test of my 80.20 pullback target. Still some important resistance to recover on a closing basis above 85.85.

CARA — Testing its highest levels at 13.76 since holding a test and retest of my 12.90 pullback target. But 14.05 will be the true test of whether momentum has reversed up.

ATTBF — Back into positive territory. My concern is less technical than observational. Its upcoming TV appearance is apparently widely disseminated. And the market is a discounting mechanism. So, why would the stock not have been behaving more optimistically than pessimistically? Better late than never, I suppose. But that”s my concern. Otherwise, .61 is resistance to maintain potential down to .55.

NVLX — Extending higher today, and must close positive to confirm yesterday”s breakout… not to mention, possibly never revisit my .225 target (.25 might still be on the table).

VAPE — Bouncing off of my 2.05 pullback target. Closing above 2.23 would be the first signal that the had actually ended, but 2.31 must be recovered to signal the rally had resumed.

TAUG — Preferable pullback objective has been .038, maximum down to .036. This afternoon”s reaction up from .038 must close above .0425 to signal momentum may be reversing up.

Posted in Bigger Picture