AMEX:XBI   SPDR SERIES TRUST SPDR S&P BIOTECH ETF
270 6 8
The price broke the first channel trend (blue), then broke the second trend channel (pink), and then formed the first wave (1) completed the second wave (2), and now going like a rocket with wave 3.
I am in LABU             long from 25. My first target of LABU             was 43-45, accomplished, I raised the target to LABU=60 for now. as XBI             is going easy to 85-90
Trade with care and make your own Judgment.
Comment: As I said, I am long in LABU, but it is much easier to make the analysis on XBI and IBB, , LABU will follow,
Comment: Still few more $$ up in Biotech to go. I am still holding long LABU, getting closer to the target, but not yet. I may not wait for LABU to get to 60$. I will see how thing will go after 55$.
Thanks for the update
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saif12 PRO koastech
you are welcome :)
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koastech saif12
Any projections for the rest of the week? Thks
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saif12 PRO koastech
Today, it was a small correction in the morning, and went back to normal after noon, so I guess, the rest of the week will be +Ve. slow increase, I am counting the real rocket rally will start in 2- weeks.
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koastech saif12
I think so too. Right now it seems like SP will retest the breakout area around 2130s and it will most likely drag XBI with it. Most of the day it was going down with the market and around 13:42 xbi had a huge spike on high volume and after that it just went back down along with the whole market. Let's wait and see.
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Thanks!
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