IBB - long way to go.

I will not be bullish in Biotech until we reach the lows (-39% correction) or until we reach new highs.
Should be a lot of mess here, for long period of time without a trend.

Kommentar:

Under 140 now... broad market is hit.

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Still in downtrend.

after it reaches bottom there will be sideways... so, NO LONGS.

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Yesterday was climatic price action. we hit the support. Maybe, just maybe time to bounce

Kommentar:

Looks like we had the double bottom (and tripple bottom in XBI). We have relative strength in Small caps and Biotech. Might see a rally that ignores everything, just goes up, consolidates and goes up again.

Most shorted Biotech - might see even crazier price-action