XBI global rout imminentThere's major global pull back, Biotechnology will scale back, but not as much as SP500 and DOW.
You should hedge properly, VIX will be back soon.
*Election year is Biotech Year*
XBI
XBI longThe price broke the first channel trend (blue), then broke the second trend channel (pink), and then formed the first wave (1) completed the second wave (2), and now going like a rocket with wave 3.
I am in LABU long from 25. My first target of LABU was 43-45, accomplished, I raised the target to LABU=60 for now. as XBI is going easy to 85-90
Trade with care and make your own Judgment.
LABUThe stock market was hit hard on the BREXIT vote. I believe LABU has now found a bottom. The LABU ETF shows a trend line break and a double bottom. The double bottom seems to be holding. Set your stops there. %R is over sold and recovering. Last time we saw this we had a run to the upper trend line. A similar move this time will bring us to $42. A very nice return on our $$$ risk if we get it. The purple arrows seem to confirm a trend change they are pointing out the Stochastic go long alerts. Same as before.
XBI great short - My favorite lately REJECT at 200 D SMAHas been supported by markets but not for long. check out 200 day ma..
XBI remains bearish IMOThe gap may close to 57.30's but I'm expecting it to fall below mid 55's , where it should continue to drop IMO
XBI - At Very Critical PointXBI below every major MA except 100 SMA and this lies on an important point in the Kumo. IMO if this breaks and sell off starts, it could impact the entire market.
PETX-Big Picture(I like looking at the daily here.)
Nice recovery after the brutal sell-off eight months ago. If 7.99 becomes support I believe there is a ton of room to the upside.
PETX-third time maybe?Neat set-up here. The price got pushed over the 200ma by that little uptrend. There should be some room to the upside if this holds.
Watch over $59 for a long swing back upwardsPosition trade in IRA here from beginning of month at 50.62.
Check out weekly momentum on biotech. The tide is turning.Need a neutral to good close to the week tomorrow.
Heavy resistanceChart looks a bit different from $IBB with defined channel. Looks like it would be easier for this one to pull back farther though.
