Forming An Island?

Less than one trading day later, the biotech XBI, reversal bar discussed yesterday has itself, been reversed.

Not only that, when looking at the chart, it’s an eerie feeling there could be an island gap at hand (not advice, not a recommendation).

As always, the market will let us know.

Biotech XBI, Daily

We’re about 30-minutes before the close; price action is lower for the day.

There may also be a downtrend line in the works.

We’ll discuss that in another update.

Stay Tuned

Charts by StockCharts

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