Off The Cliff?

We won’t know for sure, until a long time from now … when it’s all over (not advice, not a recommendation).

Yesterday’s action in biotech IBB, posted a new daily high, while at the same time, XBI moved higher but was unable to post a new high.

Trade Action: IBB-26-05, was exited with profit and the short re-established as XBI-26-11 (not advice, not a recommendation).

As the chart shows (blue arrows), that XBI short was increased during today’s session.

Biotech XBI, Daily

We’re still at the far-right side, the ‘supply side’.

If the entire channel is in-effect, the ‘demand side’, is a long way away.

Stay Tuned

Charts by StockCharts, TC2000

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