Biotech, Day 55

8:57 a.m., EST

Today is Fibonacci Day 55, from the SPBIO, low set on March 5th, this year.

Will price action pivot like it did last time?

Inverse biotech fund LABD, is above with price extremes noted.

Pre-market action (as of this post) shows LABD, to open at or slightly below yesterday’s low.

We’re still in the ‘Test’ as highlighted in the last update … although there isn’t much room to go before there’s trouble.

This is the way of the markets. They need to stretch to the extreme to see if it holds or breaks.

At this juncture, we’re at the danger point.

Stay Tuned

Charts by StockCharts

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