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Thursday”s gap down was recovered, – If, Then… Market Timing

Thursday”s gap down was recovered,

Thursday”s gap down was recovered, and overnight index futures action already indicates this morning”s open will gap up to the highs. Thursday”s gap down was unlikely to extend because of the market”s shrinking volume ahead of the three-day holiday weekend. That same liquidity factor tends to cut both ways, and could influence this morning”s gap up to reverse back into the range. The key will be in whether or not enough gain is maintained through the open.

I”ll comment on that post-open in this post”s thread on the Activity Feed. Be sure to request any chart analysis there, especially for any position that you”re concerned with holding through the weekend.

Did you miss yesterday”s post-close Livedesk Unlimited? Following is the list of stocks we reviewed, in the order that we reviewed them in case you want to scroll through the Livedesk recording to hear more than just my brief summaries below:
TKMR — Thu”s strength shouldn”t hesitate extending higher Fri to confirm the minimum objective 24.30 is in-play.
NLNK — Deeper pullback Thu than appropriate, unless offset by Fri rally, preferably immediately and substantially.
MCIG — Finally fulfilling my objective to retest May”s low, which could extend to .250-.293, but in any case can”t yet produce a durable recovery.
TRTC — This should be the leg that finally fulfills my sub-.30 target, unless another close were to recover .403-.430
AGTK — The setup for extending the corrective bounce has spent too much time to be reliable at this point.
ATTBF — Needed to close Thu above .45, or at least hold it as support, which I think it did (I don”t believe the last print at .424). Anyway, that was to avoid forming a bearish pattern. Must still close above .47 to be bullish, which I would consider holding long through the weekend.
GWPH — Thu must be the consolidation”s end to resume Tue”s breakout, signaled above 92.80 intraday and confirmed by closing above 93.70.
NVLX — The pattern that formed in meeting my .215 target is vulnerable to a sudden plunge, so I wouldn”t try to catch this Falling Knife.
GBLX — Closing above 1.20 would signal the 1.08 target satisfies the decline, but meanwhile lower targets are in-play.
FITX — Retest of .075 resistance would likely extend to .085 target.
SPRWF — Rally can”t afford to dip back under .30 if this leg intends to extend, and closing under .26 would target .125.
VAPE — Unimpressive volume on bounce off of 2.12, which must hold to avoid 1.88.
ERBB — Closed above .016 Thu, but not sure that wasn”t just a one-day reaction to a temporary higher-profile from news story, and needs second consecutive higher close Fri to confirm .026-.027 is in-play.
TAUG — Thu”s close above .022 needs second consecutive higher close Fri to confirm .027 corrective bounce target in-play.
PBR — Pivot Reversal setup on Thu at target area can be invalidated by fresh high close Fri, or else at least an extended consolidation is underway.