Pre-Market: Biotech Lower

Biotech has reversed.

Inverse LABD, higher in pre-market, approx: +5%

There are essentially two scenarios:

First, IBB is retracing, gathering fuel for new highs

Second, IBB has reversed and is heading much lower

Target levels to be identified and reviewed in a subsequent update.

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

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