The Next Set-Up

With the SOXX, reversal apparently at hand, (SOXX-25-05, active), we can continue to the next potential set-up.

As a reminder, this site’s focused on ‘strategy’ first; what’s likely to happen in a big way. Then, tactics, and after that, focus.

Moving on, we have this post from nearly two months ago; forecasting potential price action for biotech, XBI.

Clicking on the link above, reviewing the chart, let’s see where we are now.

Biotech XBI, Weekly

We’re close to the target and potential stops.

Pushing above resistance, does not guarantee a reversal.

It only means there’s likely to be instability; reading that price action, if/when it happens, will help determine the next likely outcome.

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