Going long on the Pharma sector. Anyway you slice this chart its a breakout.
XBI S&P500 biotech index may be in another rising triangle, we see price action at top of triangle for possible short entry. Instrument LABD x3 can be used for shorting this index.
tale of two massive pharma charts
Weekly rollover on the eve of Earnings Season
Triangle break out to the downside going 1.618. Following the head and shoulders top
AMEX:XBI INDEX:BTK NASDAQ:IBB AMEX:LABU NASDAQ:IBB
Is it returning to the point of break out or faking out and heading much lower?
Nerves show up on gutting ACA policies
$GILD weighing on biotechs
Descending channel until broken $LABD $LABU
Looking at the Pharma sector. The inverse fund LABD looks to be coming off a double bottom. THe TSI looks to be crossing and moving higher. The RSI is moving from oversold higher. IF the general markets are setting up for a sell off (I think they are) then this could be a real good play.
$LABD $LABU biotechs will weigh on $SPY $SPX