Category Archives: LABD-24-21

Biotech Breakdown

December 11, 2024 By in $SPSIBI, Biotech, LABD, LABD-24-21, SPBIO, XBI, ZeroHedge

Is The Channel Confirmed?

While confusion in the rest of the market rages on, Trump-bump, no-bump, consumer optimism never higher, back at the ranch, biotech XBI, is posting some ominous signs (not advice, not a recommendation).

With a backdrop of ‘the jig is up’ for some sectors, it’s possible, biotech is part of that (potential) long term reversal as well.

Biotech XBI, Daily

The work has already been done, showing the potential of a significant reversal, link here.

As stated in previous posts, the corporate account is positioned short; tracked via LABD-24-21, in the side bar above (not advice, not a recommendation).

Stay Tuned

Charts by StockCharts

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

Biotech Ends Week, Down

December 6, 2024 By in $SPSIBI, Biotech, David Weis, LABD, LABD-24-21, SPBIO, Spring-to-Up-Thrust, Wyckoff, XBI 1 Comment

That’s Not All

Is a long-term, downside reversal in this sector, about to bubble to the surface?

With yesterday’s update, it’s easy to get lost in the hourly and daily maneuvers; see a likely (short-term) potential, while it just distracts from the bigger picture.

That ‘big picture’, is below.

Once again, we have a (potential) repeating set-up: Wyckoff ‘Spring-to-Up-Thrust.

Biotech XBI, Weekly Close

With this week’s volatile action but lower overall close (from last week), the ‘up-thrust test may be complete (not advice, not a recommendation).

Stay Tuned

Charts by StockCharts

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

Biotech’s Reversal … Reversed

December 5, 2024 By in $SPSIBI, Biotech, LABD, LABD-24-21, SPBIO, XBI 1 Comment

Forming An Island?

Less than one trading day later, the biotech XBI, reversal bar discussed yesterday has itself, been reversed.

Not only that, when looking at the chart, it’s an eerie feeling there could be an island gap at hand (not advice, not a recommendation).

As always, the market will let us know.

Biotech XBI, Daily

We’re about 30-minutes before the close; price action is lower for the day.

There may also be a downtrend line in the works.

We’ll discuss that in another update.

Stay Tuned

Charts by StockCharts

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

Biotech Slams Into A Test

December 4, 2024 By in $SPSIBI, Biotech, LABD, LABD-24-21, SPBIO, Wyckoff, XBI Tags: 2 Comments

Is The (short) ‘Risk’ Least?

Price action for biotech XBI, is compressed.

From a bullish side, today (as of 12:10 p.m., EST) is a daily reversal bar.

From a bearish side, we’re at the extreme for an upside test.

Market’s bearish tone: Several weeks ago on November 15th, the sector had its largest down-volume day, ever.

In Wyckoff terms, this has potentially negated the bullish case (not advice, not a recommendation).

Let’s see what price action in XBI, is saying about itself.

Biotech XBI, Weekly

As of this post, XBI is near the top of its weekly range, narrowing risk on a short position (not advice, not a recommendation).

We’ll leave it there and let the speculator make his/her decision whether or not action is warranted.

Stay Tuned

Charts by StockCharts

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