Meets the Definition

We just had a reminder days ago, from Linda Raschke, about the definition of a price action ‘trend’.

For a downtrend, it’s lower lows and lower highs.

When looking at biotech XBI, that’s what we have; a downtrend (not advice, not a recommendation).

Biotech XBI, Daily

At this point, we’re between ‘spring’ and ‘resistance’.

We see the Fibonacci sequence comes and goes; next up is ‘Day 55’.

Stay Tuned

Charts by StockCharts, TC2000

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