When This Falters, Watch Out. Incredibly Strong.
May be a stretch, but potential for H&S forming ... with a 6% drop, followed by a 9% drop ... all in all - banking on 15% drop by the first week of April. MACD histogram and RSI over-reaching ... Donchian channel showing timing for a bounce off to midline (neckline).
Magnetizing the Greater Fool.
the Secret's Out on Higher Relative Volume.
Biotech has had an insane run up the last year, and specifically the last 14-15 months where it broke out of its 30wma channel and relative consolidation. At the moment, almost daily we are seeing new bioteches with all sorts of "ideas" no revenues, high valuations come into the market. this is similar to tech booms in my eyes, although not yet as overextended...
Indecisions Across the Board for Broad Indices
All-Time Closing Highs, Cluster Resistance Above $250
Very constructive bounce after yesterday's non-participation
Seriously underperforming the $SPY and $QQQ - dragging $IWM with it.
Biotechs trading well above the 20 MA and have been going crazy over the past year. Good chance for major or minor correction. Buy your puts
If you didnt play this chart , like me, you are a novice.. :)