$LABU $LABD Biotech weighs on $SPX $SPY
$LABD $LABU $XLV $SPY $SPX #SP500
heads & shoulders as a possible clue
The price is about to break the Flag from top and goes to 55 dollar. loaded with 50% for now (high risk), and the other 50% if and when the price cross the resistant line. This is only for sharing, Make your own judgment and take your own risk. I am taking some risk of the money already made from LABU, so no regret if this judgment turns to be wrong. Good Luck.
$LABD $LABU $SPX $SPY
Looks like there could be a meaningful drop
I believe a big move is coming. I'm leaning bullish, but if we lose major support around 57.80 this will be a short play. It's important to be conservative. Wait for the break of resistance, or break of support.
Biotech went wild after Donald entered the white house. 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.
It seems like Biotech has found its bottom, we should rally from here... There is a strong chance due to the elections that we may get an undercut low next week to get all the retail traders out before the big rally. Opening LABU position today with SL at today's intra day low.
We are finally starting to see some bullish indicators on the daily for XBI. Of course with bio, the swings are long and hard to predict bottoms, so this idea/play is pure speculative. Looking back we can see similar RSI divergence signals and MACD crossovers as to what we can "potentially" see here in the next couple of days. Any bounce off the 55.95-ish area...