4-22 Could It Be? Is this where we carve out a double bottom? If so then IBB (longside) MAY be carving out a double top. Remember, going long this is gaining short exposure in the bios. BIIB (Biogen) reports so be aware it could have an impact on this issue. Chart wise its all about an upside crossover of the green line. Feel free to follow on TWTR...
BIS attracted quite a few buyers when the companion BIS went parabollic and had a small blow off. But the channel held and now all those buyers will be seeking exits in the coming weeks.
Should the Fed do nothing to defend (devalue) the US dollar in the global currency wars, or worse, raise rates by the September 2015 Fed meeting, the economy will likely crash. Even if the Fed does nothing, the prospect of rate hikes amid a slowing US economy as we enter the weakest 6 months of the year (May - Oct) could be enough for a large correction. If the...
No doubt the Bio's are the bubble of irrational exhuberence. This starts to look attractive to me as a swing long...rather than bet on an individual stock. I'll probably start building a position on pullbacks....if it pulls back to a higher low...I'll be interested.
Pretty self evident here....setting up for an inverse H&S pattern on BIS. Likewise, RSI w/bullish divergence...this looks to be a very, very big winner going forward if/when we crash, IMO.