Technician
Short

Biotech: A Time Bomb About To Explode

INDEX:BTK   Biotech Index
650 1 17
Definition: The Bump and Run is a reversal pattern that forms after excessive speculation drives prices up too far, too fast.
The first phase is a uniform bullish trend with a trend line slope of 30 to 45 degree, then a period of excessive bullishness with a trend line slop of 50+ degrees, and finally the Run phase which is a period of sell-off.

I am looking for an major reversal in the u.s. indices             , and especially the biotech, targeting the main lead in trend line .

Good luck , join me at https://twitter.com/thefxchannel
Also at my Facebook             page http://www.thefxchannel.com
My best regards,
Technician
https://thefxchannel.com
If you were to draw a LOG chart, things would look much different and trendlines would not be the same. Given large % gain this index has had, would it be not correct to use the LOG chart instead? Thank you, Pavel
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