A look at the weekly candle chart with the monthly Bollinger Band overlay. SPY and QQQ have broken through the basis MA but XBI remains below. Full details: https://www.trendspider.com/blog/sunday-update-week-of-february-4th-a-look-at-the-monthly-overlays/
%% One elitetrader is exepecting a reversal since friday, based on downsloping volume. DOW/DIA does look bearish .Actually i was exspecting a sharper sell off on QQQ early today + last month around 50dma.LOL Also i was exspecting a sharper sell off this morning based on 1st day of FEB usually up+ it was down.LOL. So live + learn;Jan QQQ pull back was much less than i expected/200dma. Sold SPY related long ; 'cause FEB is usually not a strong as JAN. But if QQQ 50 dma holds today?? Looks like it may+ trend up well, for a good turtle trend run. Even though 50 day parabolic time price , on monthly QQQ is still bearish........................................,, If i was younger i would trade that biotek/drawdowns.