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IBB D2: TOPPED OUT // correction looming // SHORT IT!(NEW)

Short
NASDAQ:IBB   iShares Biotechnology ETF
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IBB D4: TOPPED OUT // correction looming // SHORT IT!(NEW)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.


🔸 Summary and potential trade setup
::: IBB / Biotech sector is maxed out
::: previously a steep 100% run up
::: unsustainable
::: hype is already gone
::: 30/40% correction incoming for IBB
::: VERY limited upside from here
::: rotate out of biotech now
::: expecting correction MODE
::: alternatively you can also SHORT IT
::: SHORT IT 25% gains at least short-term
::: more coming over next few months
::: unsustainable gains, game over now
::: distribution at the TOP setup
::: spells MAJOR trouble for the BULLS
::: BEAR cubs will turn into GRIZZLY
::: expecting CORRECTION to last next 4-8 months
::: distribution at the top in progress
::: will lose up to 40% during correction
::: There is no upside in this market
::: Get out / trim exposure / or SHORT IT
::: Game over bulls and market will shift
::: into BEAR mode September/October 2020
::: either way setting up for 40%+ correction
::: 4-8 months of correction incoming soon
::: better be prepared in advance
::: when there's GREED there's also PAIN
::: good luck traders
🔸 Supply/Demand Zones
::: N/A
::: N/A
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment: BEARS
::: Sentiment outlook short-term: BEARISH

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