Back in The Day

So, here we are nearly on the eve of the most significant reversal, ever:

September 3rd, 1929

That is, maybe, until now.

Today’s downside action may turn out to be just a blip; much ado about nothing.

Or it could be the harbinger of a top. Maybe the top (not advice, not a recommendation).

Biotech sector XBI, appears to be losing steam while at the same time, being in up-thrust (potential false breakout) condition.

As of this post (12:10 p.m., EST), XBI is down -0.63%, and has posted a new daily low. Short position XBI-25-03, remains active (not advice, not a recommendation).

We’ll discuss this index and others over the long weekend.

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