12:20 p.m., EST
Biotech SPBIO and Inverse LABD In Fibonacci Sequence
Today is Fibonacci Day, 34
Like a metronome ticking away, keeping time, so too has the SPBIO index and inverse fund LABD.
From a personal anecdote situation, I’ve never seen an index hit every Fibonacci Day with an inflection point … all the way up to today: 34 Days.
To get to the analysis, we’ll start first with an unmarked daily chart of inverse fund LABD, below:
Pivots from the June 28th, low are in Fibonacci sequence:
If today is a reversal or subsequent pivot … verified by next week’s price action, LABD’s exhibiting an incredible adherence to Fibonacci time.
This can only happen if nobody’s watching.
As soon as traders/speculators catch on that something’s afoot, the sequence diffuses into chaos; that may or may not come back to order at a later date.
Charts by StockCharts
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