Biotechnology belongs to the sectors of the stock market which were rather moderately affected by the Coronacrisis. In fact, in the second half of april the NYSE ARCA Biotechnology Index even managed to surpass its pre-corona levels to attack its previous high at about 5.420. However the advance of the preceding days was too strong to get beyond that level and in...
The biotech sector is really interesting when you dive down into the symmetry of the last few cycles. Early 2000s-2008 and 2016-2018 are mini rallies within the bigger wedge. If this pattern is to continues, you can look for entry around the end of 2020 when we bump up against the larger support line (around $3600), and expect to hit the resistance of the larger...
A blowoff top is possible to around 7000. This happened during the last stage of a wave 3 of the same order.
Anyway the situation is getting riskier. There are signs of fatigue. The ascent is less steep, there is a divergence, fib relations would indicate a possible termination of the impuls right now, since wave 5 would be 76% of wave 3 and wave 1 is 0,24 % of...
BTK Bill did in year 2000 - Hillary now
Bill in 2000 the human gnome available free for all - lead into BTK crash
Repeat now 26% down from top or just a shake out
