jmboyer1
Short

IBB (Biotech) Failed Breakout?

NASDAQ:IBB   ISHARES NASDAQ BIOTECHNOLOGY INDEX FUND
22 0 1
IBB             violates horizontal trendline from breakout. Will it result in a failed breakout, thus leading to much downside to come, or will it rally above and beyond to new highs? Of note is IBB's failure to push back above trendline (see arrow) today.

FYI XBI             (not pictured---is small cap biotech) faring a bit better than IBB             as it hasn't violated breakout trendline yet...

TBD on both.
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