Technician
Short

Biotech Burst

INDEX:BTK   Biotech Index
354 0 9
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 initial down leg towards the bump red trend line, followed by the lead in orange trend line as a minimum target

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