Mid Session

Biotech SPBIO, In A Rally

Ready For Up-Thrust Reversal?

We already have the clue.

Biotech SPBIO, just went into a spring condition and is now in a rally.

From the sage observations of David Weis, we can expect … or at least start to look for, an Up-thrust.

The unmarked daily chart of SPBIO, is below. The charts that follow, show the potential up-thrust area. After that, we have a Fibonacci 23.6%, level added.

Just to add intrigue, September 7th, is 12-days from the August 20th low … well within acceptable range for a Fibonacci 13-Days.

Spring and Up-thrust notations:

Fibonacci retrace level:

Stay Tuned

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