IBB - long way to go.

Updated

I will not be bullish in Biotech until we reach the lows (-39% correction) or until we reach new highs.
Should be a lot of mess here, for long period of time without a trend.

Note

Under 140 now... broad market is hit.

Note

Still in downtrend.

after it reaches bottom there will be sideways... so, NO LONGS.

Note

Yesterday was climatic price action. we hit the support. Maybe, just maybe time to bounce

Note

Looks like we had the double bottom (and tripple bottom in XBI). We have relative strength in Small caps and Biotech. Might see a rally that ignores everything, just goes up, consolidates and goes up again.

Most shorted Biotech - might see even crazier price-action

KholleKhokk

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.