Member @natdicarlo requested an update on the biotech sector (XBI/IBB) within the trading room. XBI was recently rejected near the top of the former support, now resistance zone & has moved back below it which is bearish. That 60-min resistance zone was also a key support zone on the more significant daily chart so the [...]
Technical analysis on the US stock market, gold, GDX as well as several sectors & trade ideas that stand out at this time. Covered in the following order are ACBFF (Aurora Cannabis), EUR/USD, (Euro & US Dollar), GLD & GDX (gold & gold mining ETFs), QQQ, SPY, XBI, IBB & GE (General Electric).
Technical analysis of the US stock market & several sectors that stand out at this time. Covered in the following order are: QQQ, SPY, XES, XBI, IBB, AMGN, GILD, CELG, REGN, ACBFF, WEAT (wheat ETN & NIB (cocoa ETN):
Analysis of XBI (Biotech Sector ETF) and several of the largest biotech stocks including AMGN, ABBV, CELG & GILD.
Broad Markets As I've already posted extensive analysis on the equity markets as well as various commodities, sectors & precious metals over the past week I figured that I'd keep it simple & share what I'm most focused on with the stock market at this time. At the risk of over-simplifying something that is quite [...]
In the first chart below which was posted on Monday, I highlighted the fact that any new high on IBB (Nasdaq Biotech ETF) soon would be a divergent high & so far, that is the case. Yesterday, IBB attempted to breakout above the 303ish resistance level which has capped all advances going back to the [...]
In response to the previous update on QQQ & the market leading FAAMG stocks, member @natdicarlo posted the following comment: Thanks Randy, IBB appears to be breaking out. Any thoughts on that as it might have implications on QQQ. Although biotechs don't have nearly as much of a weighting in the Nasdaq 100 (QQQ) as [...]