1. BSX (Boston Scientific Corp) played out exactly as predicted 6 weeks ago with a move down from S2 to the first target, followed by reaction (bounce/consolidation) & then a continued move down to backfill the gap & hit T2 for a gain of about 15%. The first chart below is a screen-shot taken from the Oct 18th Medical Device Sector Analysis & Trade Ideas video followed by today’s updated chart.

In that video, I had covered the charts of my top picks for short trades in the medical device sector; MDT, ABT, SYK, BSX, ISRG, ZBH, EW & VAR along with the medical device sector etf, IHI, all of which have played out for some very profitable trades in relatively short order. Some of those charts from that October 18th video along with the updated charts are below.

While this sector may have a little more downside to come, my preference is to book profits on each of these trades as they hit (or already have hit) their final price targets. Most importantly, IHI (Medical Device Index ETF) is now close to my final price target which is solid support. With bullish divergences forming on the daily MACD & RSI, the odds for a meaningful bounce off or just below the final target level (which is placed at the top of a support zone) are substantial.