Spongetech Delivery Systems, Inc. (fka SPNGQ)

[FinancialAdvisor]

The stock is consolidating, it's in either the C right now of an A-B-C or the 3 of a 1-2-3-4-5 pattern. I'm thinking the latter and I agree with you the next significant run is not going to start in the next 5 trading sessions.

It rallied from low to high and that took 3 months time. This consolidation phase should easily last more then 3 weeks time, if not a solid month or about 20 trading sessions before the next rally is set. The massive volume sell-off that was experienced created an almighty ceiling for the time being and making a base is necessary at this point as well as healthy, first a retest of the .07 panic low off of the high of .28 might be in order and could be likely on the 5-wave lower.