XBI Before and After

A look at the biotech ETF respecting the price channel resistance on Monday after a close above the SMA (20) on Friday.

 

These jumps in biotech are really on those 2 major acquisitions in the last week....I was bullish in late December but as of today I started to add LABD and ZBIO ....if they drop more I'll continue to add more positions.

 

I'd be careful buying the biotech ETFs without a pullback first.

One of my best systems is currently showing LABU as a strong short-term sell. (over next 1-5 days)

 

Adding more LABD as we speak!!!

.biotech looking for a short term sell off of at least 5% on the IBB

 

Ok, now show me a chart (you pick the security) of today's close with your breakout/false break notations......and we'll see how it goes.

 

Heres a GE before and after chart from and CHK from this week.

 

CHK before and after this week.