IBB: Time at mode downtrend failure is a wake up call

14 Eyl 2016

The implications are that since IBB failed to hold below 282.68 and drop with the market, we might see a strong risk on move accross the board.
We can also examine BID to find it's holding earnings support.
These two stocks can tell you a lot about the direction of the broad market, as illustrated by Tim West in his publications.
I am net long again, but with an open mind. Until FOMC, I doubt the market falls again, and we might even make a new all time high.

Cheers,

Ivan Labrie.

14 Eyl 2016

Not

16 Eyl 2016

Not

Good move, now at support. It'd have to continue to progress next week.

17 Eyl 2016

Not

IBB almost at the target. One thing: hitting the target we might come back down, unless we start a strong uptrend (for example, if we don't get a rate hike on September)

23 Eyl 2016

İşlem elle kapatılmış

I'd reccomend closing for the week. One day left in the uptrend timer.