If you’re unemployed, starving to death, you’ll be a ready face-diaper wearing compliant subject; easily coerced into being injected (executed).
Obviously, the goal is to be as independent, self-employed as possible so we’re not that person.
Which brings us to the culprit du jour: Biotech.
Yesterday, the expectation was for a reversal and test (that day) before SPBIO continued its downward trajectory (LABD higher).
It looks like the test is lasting two days (maybe more) instead of one.
Inverse fund, LABD is currently trading near 24.15. That’s right in the vicinity of the expected range between 23.90 – 24.30, stated yesterday.
LABD did push a little bit lower in the early session to 23.68, but still within expected range.
LABD is testing the right side channel line and trying its best to break through. Thus far, the low for the day remains at 23.68.
If there’s an upward (LABD) reversal from here, a Fibonacci Day 8, from the original Day 55 low, it would give more confirmation we’re at least following the trendline; potentially at the very right side of a huge trading range.
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