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    XBI Approaching Top of Wedge Pattern

    XBI (Biotech ETF) has already rallied back to the top of the wedge in just one trading session since tagging the bottom of the pattern yesterday. Although this prices could pop above the pattern any day now, keep in mind that any breakouts over the next week or two run an increased rate of failing [...]

    Dec 23, 2016 3:44pm|Categories: Equity Market Analysis|Tags: , , |1 Comment

    Biotechs Bullish Falling Wedge XBI IBB PBE

    There are some potential bullish developments on the 60-minute charts of the biotech ETFs (XBI, IBB & PBE) worth mentioning. XBI (which tracks the same biotech index as the popular 3x leveraged ETFs, LABU & LABD) appears to be challenging the top of a nearly mature bullish falling wedge pattern while IBB has recent broken [...]

    Dec 16, 2016 10:49am|Categories: Equity Market Analysis|Tags: , , |6 Comments

    Biotech Sector Poised For A Pullback

    Before I get into the intraday charts, which are much more useful for timing entries & exits on swing trade & quick pullback trades, let's take a quick look at the bigger picture in the biotech sector. As this weekly charts illustrates, so far, the 2016 rally in IBB appears to be nothing more than [...]

    Biotechs Doing The Heavy Lifting Today, Rally Likely to Be Faded

    This video clearly illustrates how, despite what might seem like an impressive rally in the US stock market, what is likely to prove to be an unfounded & soon-to-be faded rally in the biotech sector was largely the primary driving force behind today's gains in the major US stock indices, particularly in the Nasdaq 100 [...]

    Nov 9, 2016 4:16pm|Categories: Equity Market Analysis|Tags: , , , , , |3 Comments

    Biotechs, XBI & IBB, Break Support

    XBI (SPDR S&P Biotech ETF) has now clearly taken out the 59.87 support level while IBB also broke below key support today. As such, it appears the correction in the biotechs is still well intact. IBB (iShares Nasdaq Biotech ETF) has broken below both the downtrend line & 268.20 support levels. As one of the [...]

    Oct 17, 2016 10:06am|Categories: Equity Market Analysis|Tags: , |4 Comments

    Friday Morning Market Update 10-14-16

    This update is simply highlighting a few things that stand out right now, most of which have been highlighted in the trading room. First up is natural gas. Several members in trading room are currently trading natural gas, including @joefriday, who has been actively posting charts & updates (thanks JF). That had brought it to [...]

    Biotech Sector Outlook (video)

    As this video ran longer than I had anticipated, I'll sum up my thoughts for those that don't have the time or inclination to watch the entire video. Despite the fact that the biotech sector has been drifting higher in a choppy but overall bullish trading range since the February lows, there is very little, [...]

    Jul 26, 2016 3:36pm|Categories: Equity Market Analysis|Tags: , , , , , , , , , , , , |5 Comments
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