2waytrading

Don't trust the market til this reverses from downtrend

INDEX:BTK   Biotech Index
65 1 0
It looks the bleeding slowed down but not out of the woods yet. Keep an eye on this biotek index to see a possible bottom in the market.
It is a good chart to look at, but doesn't logic tell you that the BTK will be the last thing to respond to the reversal back to bullish? Investors will first come back into stocks that are perceived as safer with good upside potential like for instance, dividend payers and long time history of rising prices, stocks over 200day and 50day, stocks that are on the move up. BTK would be a lagging indicator. A great time to start to watch it though I agree, but I think a better sign of reversal will be to see companies that are not the dividend payers / safe plays, but the medium plays, good solid long-term uptrend seen continuing.... For instance, TSCO, ORLY, ULTA, etc. I think personally a great play would be to buy the BTK when you see these other three have and hold on to breakouts.
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out