11:12 a.m., EST:
Word’s out on the street.
In what may be just the tip, two links below are businesses denying access to those who have been injected.
Florida private school prohibits teacher access.
Physician’s message about denied access to services.
Here’s the catalyst discussion related to the above links.
Here’s a link to the PDF.
Note: The last two links do not verify the veracity of the referenced material. Be advised.
Momentum is building for some kind of ‘tipping point’.
We may be there now.
We’re looking for an avalanche of reports whose combined (fundamental and technical) effect is catastrophic implosion of the biotech sector.
The chart speaks for itself. It’s obvious biotech has reversed and could be in serious trouble.
The inverse fund LABD is up a stiff 10.5%, as of this post:
We may or may not have a trading channel as shown.
The right side trendline will need more confirmation. As always, anything can happen and the nascent move could fall apart.
However, what is known:
SPBIO’s (and LABD’s) pivot was called ‘to the day’.
The “Iceberg” notation references this report, where the probability of SPBIO downside at that juncture was presented.
That analysis was correct. SPBIO never looked back.
Our ‘project’ position remains open (not advice, not a recommendation). The correct stance under current circumstances is to let price action take LABD higher.
As Livermore said nearly a century ago, the hard part now is to ‘sit tight’. Let the market determine when the move has ended.
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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.