to triple top @ 93-94 then bearish
confirmation breaking the neckline @85. Also, upside momentum declining as indicated by the RSI
divergence, with MACD
crossing the zero line. Political rhetoric by both Democrats and Republicans suggesting government intervention as the solution for combating rising healthcare cost. Also, majority of constituent names have weak fundamentals (e.g., negative PE) and may be first to be discarded in a major downturn for their high-beta speculative nature. VIX
also at all time low and a spike in vol could propel name to the downside quite aggressively. Severe short squeeze may be possible along the way (as we saw today) due to very large short interest in the name. But near-term path of least resistance (trend) appear to be down rather than up.