MyStrategicForecast « The Danger Point®

‘Winds of Change‘

The last update said, XBI presented the ‘best (index) short opportunity’ (not advice, not a recommendation).

Is that still true?

With the SPY and Qs, still grinding higher, XBI is absent, having topped four days ago.

It’s not necessarily the top per se, but the XBI location in the overall market.

While the major indices are just now reaching all-time highs, biotech XBI, posted all-time highs years ago.

Four and a half years, to be more precise.

Biotech XBI, Daily

Today’s action can be considered as a ‘test’ of the attempted (possibly failed) breakout.

There’s ‘evidence of a struggle’ and XBI is not (at this time) moving higher.

Adding to that, we have what’s been referred to as ‘Kabuki Theater‘ coming up at 2:00 p.m., EST, tomorrow).

Let’s see what happens next.

Stay Tuned

Charts by StockCharts

The Danger Point®, trade mark: No. 6,505,279

Inflection Point?

Walmart doesn’t have far to go in either direction, to define the next move.

Before getting started, let’s go back to comments made about WMT from September 4th, on this post:

“WMT, just might continue to grind higher to post above the 103-area to take out stops … maybe.“

Of course, it was a ‘maybe’; we’re dealing with probabilities.

With that said, the ‘maybe’ happened.

Walmart WMT, Daily

At the far left of the chart is WMT’s all-time high.

Next, we have a lower high on August 8th.; now, we’re in ‘up-thrust’ position.

Data coming in, here and here, indicates the market(s) may be at an inflection point, minor, or potentially, major.

The second link is especially well-done; it methodically steps through the mechanics of a potential high.

Stay Tuned

Charts by StockCharts

The Danger Point®, trade mark: No. 6,505,279

The Danger Point®