Price Action, The Last Word

For the bearish case, something’s wrong with price action on biotech SPBIO (not advice, not a recommendation).

As the weekly chart shows, SPBIO has penetrated support and stopped-dead.

Technically speaking, as unbelievable as it may be, we’re in Wyckoff spring position.

Biotech SPBIO, Weekly

Price action penetrates support and hesitates … potentially setting up a rally.

Until there is some indication of downside continuation, all shorts (via LABD) have been exited (not advice, not a recommendation).

Stay Tuned

Charts by StockCharts

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