3:43 p.m., EST
Recession’s over … Depression starts
Boots on the ground update from Dan at ‘I Allegedly’.
Drastically reduced economic activity at premium retail locations.
From Uneducated Economist: There’s news the lumber mills are going to curtail production … right in the middle of summer … the high season.
Couple that with the strange ‘going’s on’ reported at this link concerning the database that’s being monitored.
Then, we have another strange ‘coincidence‘ that takes place every hundred years like clockwork.
Which brings us to the sector at hand: Biotech
We’ve taken the hourly chart of biotech SPBIO, and inverted it; shown below:
Price action pushed through the spring set up conditions noted in the last update.
SPBIO went on to retrace to the 38%, level … where it is now.
Looking at the price structure of inverse fund LABD (not shown), the downward thrust energy on a daily basis has declined significantly.
That analysis to be forthcoming.
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.