AMEX:XBI   SPDR SERIES TRUST SPDR S&P BIOTECH ETF
2360 views
47
2360 38
Yesterday we had a capitulation type of volume in XBI , so I think we are very close to the bottom, or maybe we had it yesterday.
I still think that the 06.29-06.30 gap is a runaway gap - which will never be filled- and yesterday we almost exactly tested back the top of the gap. And today we couldn't fall anymore we are just bouncing from the gap.

So I think entering here is a low risk trade if someone set a stop below yesterday's low.
If we break below yesterday's low and enter into the gap we are going to fill that and we are getting very close to the 49$ level. If we break below 49$ I'm quite sure that we are making lower low in XBI so the line in the sand is the yesterday low for me.
If we take that out I'M not interested in XBI for a while.

Indicators
MACD is turning up and might want to cross over
RSI left overbought - in the past it was a sign of the next leg up.

We are charting in XBI so you have to trade based on this when buying LABU .
The 3x ETF chart ( LABU ) is not good for charting.

LONG XBI 54.70 $
STOP 52.80 $

LONG LABU 26.90$
STOP when XBI breaks below 52.80$


Kommentar: If we break above yesterday's high - 55.83 $- that would be a swing low.
It would mean we have the follow through in the following days.
Kommentar: LABU might shine tomorrow after market open.
SPX looks great
Kommentar: Closing 50% of the LABU position now.
Kommentar: Closing the other 50% of LABU today.
Kommentar: Price 43.48$
Kommentar: Money is flowing out of SPX as it's breaking out.
Kommentar: For the same run (near 45%) we had to be in LABU from the 1st of July till the end of September last time.
This time it was 2 weeks.
@gandonian11 This was a good call
Antworten
Pullback or trend reversal?
Antworten
Can we get your update for NGAS, interested to see if you added to your position. Thanks.
Antworten
We bounced yesterday and today on structural support and the 10 EMA on XBI. I'm holding juuuust tiny shares LABU long to see if this support breaks. If so, then I'm closing, but I want to see if we bounce up and off from here.
Antworten
toothless toothless
@chartwatchers Arpi, this support looks like it's still holding. Do you see this as strength and we bounce from here?
Antworten
Great Call°
Thanks and keep up the great work
Antworten
I think XBI would go to 75.... it will not realize to touch 80... and then I will promptly buy LABD ... near end of November. This is my opinion.
Antworten
Thanks Arpi. I sold 1/2 a couple days ago, worried about the S&P topping after the Trump run. You confirmed my worries. I'm out too.
+1 Antworten
Where is it (i.e. money) going?
Antworten
@VirtualFax, in these hours to dollar.
When it's done will go into commodities.
+1 Antworten
DE Deutsch
EN English
EN English (UK)
EN English (IN)
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Startseite Aktien-Screener Devisen-Screener Krypto-Screener Wirtschaftskalender So funktioniert es! Chartmerkmale Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Hilfe & Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Meine Support Tickets Support kontaktieren Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden