Repeating Characteristics

Yesterday, biotech XBI was down on the most volume since May 6th, of this year.

For leveraged inverse fund LABD, it posted the heaviest upside volume, ever.

The chart shows a (potential) repeating characteristic for XBI that occurs at the point of trend change (not advice, not a recommendation).

As always, anything can happen and today’s ‘test’ could fail with XBI continuing higher.

Biotech XBI, Daily Close

The ‘up-thrust’ reversal zone is between support/resistance areas (far left, off chart) at the approximate location of the 50% retrace.

Stay Tuned

Charts by StockCharts

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