It will rage for a while longer. When it hit the 75 mark, enter short with LABD .
Then ride it down to see the gap closing.
There is a risk that it will close the gap before it hits 75 - by e.g. double topping, but I find it more likely that it will now continue up to 75.
75 is the critical number for the short entry.
I am very sceptical about the stock market at this point as I believe it is due for a retrace. I will not be positioned in XBI at the moment, neither long or short. It is always a risk of being long in a position that has unfilled gaps below. I follow the semis as a leading indicator, they are @ a VERY heavy resistance area. I believe we get a pullback in stock market very soon.
I set the target based on 360 degree Gann level given a base price of 44.