Testing Complete … ?

Is biotech (finally) coming around the Clubhouse turn?

Has it finished its two-months of (upward) testing and ready to reverse lower?

We’re about twenty-minutes before the open; pre-market action is posting a tight range (magenta arrow), shown on the inverted chart.

Biotech XBI, Daily (Inverted)

For the beginnings of a ‘confirmation’, we’ll need to see a new daily high (new low, non-inverted).

From a Wyckoff standpoint, note the net distance traveled has become shorter and shorter.

A potential reversal may be at hand (not advice, not a recommendation).

Stay Tuned

Charts by StockCharts

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