3:37 p.m., EST

Another adverse move in SPBIO and LABD.

Still a short?

We’ve pulled out to the weekly time-frame on inverse fund LABD.

The chart’s been annotated with the same repeating trend line concept but with adjustments.

It may seem like an obvious statement but to form a trendline, price action needs to contact that trendline.

The internal lines (slightly lighter shade) show the repeating contact of price action … both on the left side of the lines and the right.

The left-most trend has three contacts. One on the left side before the down arrow and the others on the right.

The right-most trend starts at the low (Week 13) and has a potential push out of trend that returns … which may be in the process of confirmation this week.

This trade is currently being managed (not advice, not a recommendation) with an eye on a potential exit in the fall; possibly October – November time-frame.

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