Keep the population continuously distracted: Wear your mask, be afraid, take the blue pill and follow orders; Sounds a lot like a certain European country in the early 1930s.
We’re in a long-term game plan(demic) of unprecedented wealth-transfer.
Part of this transfer is to keep the ‘market’ rising higher, while underneath, the foundation crumbles.
Those in the know, cash-out.
The vast majority of equities do not participate in the up-trend until the end. That end, is when the top ten, the top seven, the top five all the way to the top one, which at this point is Apple (AAPL), can’t go any higher.
In classical terms, the market ‘thins out’.
At this juncture and barring any surprise to the up-side, we see biotech (IBB) reached its all time high weeks, even months ago in late July.
There has been a steady, but halting progression lower until the past week.
If the 23.6%, retrace holds, it’s an indicator of substantial weakness in the sector.
Looking to what might be ahead, the weekly chart notations show a potential Head & Shoulders pattern in its very early stages.