Panic In The Streets …

Remain Calm. All, Is Well.

All, Is Well !!!

It certainly feels like Animal House, doesn’t it?

A bunch of idiots running around, glued to the mainstream narrative.

However, let’s not digress but rather get to the chief cook and bottle washer at hand.

Moderna (MRNA) and Biotech (IBB).

Biotech: MRNA, IBB

Moderna’s move above resistance (‘Target’ level in this update) seems too fast for up-thrust and reversal.

It could reverse from here.

However, the more likely scenario is the mainstream milks this whole thing all the way to Christmas and beyond.

That brings us to the sector itself, IBB:

We’ll go straight to the marked-up (daily) chart.

It’s starting to look familiar isn’t it?

Spring-to-Up-Thrust … Spring-to-Up-Thrust

But wait … there’s more!

A Fibonacci 21-Days from the most recent IBB, low on November 23rd, puts the date at December 22; The Winter Solstice.

How convenient.

Of course, anything can happen between now and then. At least we have a potential target and scenario.

As with the gold miner’s (GDX) short that’s still on-going (not advice, not a recommendation), we get to see how it all plays out.

Will Biotech, IBB, be in up-thrust (reversal) position, on or around December 22nd?

Stay Tuned

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.

The Danger Point®, trade mark: No. 6,505,279

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