ISHARES NASDAQ BIOTECHNOLOGY INDEX FUND NASDAQ:​IBB

At support.

Psychology of a Market Cycle Cheat Sheet: goo.gl IBB's chart is identical to the chart on the market psychology cheat sheet linked above. IBB 5-wave cycle is over + Truncated 5th Algorithms exit the market after extended 3rd waves, leaving the 5th with no volume nor liquidity, just as it's done for IBB . Current Market Condition: ...

10% upside towards previous high

Successful double bottom is in. next move is up. Check out AGEN, already moving up, good product line on the way, successful tests.

IBB broke the previous upward TL. However, my indicator reached the bounce area, I would expect it to have a bounce to the broken TL for a retest before heading down lower. If breaking the weekly bullish cloud ahead, downside will be greater.

Yet again (markets really are at a critical juncture imo) I can see two possible counts for this index/etf. The red count would suggest a much deeper and longer correction before continuing upwards while the blue count suggests that the rally from June, 2016 was in fact a wave 1 up. Something the blue count does have going for it is that the larger wave 2 ...

looks like complacency , lets see how it develops

IBB is pulling back into a solid spot of buyers on the weekly chart. Great place to go long with a very small risk and good reward.

WAITING FOR A CONFIRMATION SUCH AS A TEST OF THE SPRING AND THAN JOIN THE ROAD UP

Already testing the weekly trend line. Technically still in the uptrend. My big concern this one was late to the party and it is falling fast. Seems like lots of weak hands.

Looks sort of like a drunken cup with handle. Could use the current short tern uptrend line or recent weekly low as a stop. Process your way. Feedback appreciated.

look for price action to b/o of triangle $118.74 confirmation

Volume drying up. Looks like demands weakening. Tomorrow could be a pivotal day. Stay tuned. Bought BIS to balance my long biotech positions.

Watch closely tomorrow. Bull trap vs bounce off trend line with continuation of current trend. Personally I think the trend continues. I'm a beginner at volume price analysis. Analyzing the daily bars I feel this opens higher tomorrow. Sell off with wide price swing however was on low volume.

Watch the index. Stay tuned. If support breaks on volume, will be adding to $BIS.

Biotechnology stocks have done nothing over the last 3 years however we now see a breakout and this could present an opportunity to add to a long term momentum portfolio. Please stay tuned, as there could be be many opportunities in the broader healthcare sector.

IBB is breaking out to the upside, with an initial target around $124, the 127.2% extension of the major swing from this year's high in January to the lows in April, followed by the 161.8% at $131. I'm jumping in via September $125 calls.

Healthcare ETF