after earnings no more major news until election time. possible martin shrekli enlightenment
There'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*
The 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...
With OIL moving lower LABU could drop here to retest the lower trend line. I do notice that the SP500 seems to go with OIL or conversely! I have some LABU. I thought the chart looked good coming off the lower trend line. But if the market moves down with OIL I can expect LABU to follow. I'll probably sell 1/2 my position Today and see how OIL and markets do.
The uptrend for regn looks strong at the moment with the rsi above the 0 line but do be careful in the weeks leading up to earnings release. personally, i am long atm but that may change if I can buy it back at a lower price.
Has been supported by markets but not for long. check out 200 day ma..
Perfect Ascending Channel and AB=CD, The price is most probably will keep falling to reach 26.
The 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
In my previous chart, LABU almost finished AB=CD pattern in a nice Ascending channel. I sold half of my short at 26.8, and keeping the other half to see how the price will act after reaching the lower side of the channel. I mean in the circle, I marked as Breakout. ** Not really sure what will happen in the breakout circle. may be a reflection and price will go...
XBI 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.
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.
XBI etf telegraphs well
I believe LABU is at great support zone, soon we'll see it getting to 0.236 resistance zone, which will be 30.86