Derek Gillespie moved into third place with his second straight 5-under 67. He stands at 10-under-par 134 and is one stroke clear of overnight leader Jim Lemon. Matt Kilgo is one stroke further back at 8-under-par 136.
Wall opened with a birdie at the par-5 first. He later ran home back-to-back birdies from the sixth to move to 7 under.
Around the turn, Wall birdied the 11th and followed with another at the next. He sank his sixth birdie of the day at the 14th and capped his round with a birdie at the 17th.
'That was huge for me, I thought for sure I was going to have to re-tee it after that shot,' said Wall of his poor tee shot on No. 17 that was nearly lost. 'But that was a solid round of golf today. I got into a zone early and never really let up.'
Watney began his day on the back side, as the event is using the Monocan & Shamokin nines at the Stony Creek Course. He began fast with back-to-back birdies from the 10th. He dropped a stroke at the par-5 13th, but was able to recover with an eagle at the par-5 17th.
Around the turn, He posted bookend birdies at the first and ninth for a share of first place.
'You know, when all is said and done, it's still golf,' said Watney. 'It's like any other tournament, play it one shot at a time and keep it in the fairway. You can attack from there. You get in this rough, you are going to have your hands full. There are a lot of great players out here, so I'll have to be sharp this weekend.'
Alex Quiroz notched a 5-under 67 to move into a share of sixth with Jeff McCammon and Tele Wightman at 7-under-par 137. Ted Brown, Ryan Dillon, Mario Tiziani and Justin Young are one stroke further back at minus-6.
Chris Wisler, the 2002 champion, is in a group at 2-under-par 142.
The cut line fell at even-par 144 with 69 players advancing to the weekend.