Waiting for entry on trigger. Preferred to be closing below 68.73 on the daily or below 69.78 after 7th December 2015. Needs permission from S&P. < 2069. Same double top pattern seen too, will probably move only after NPF or FOMC.
Now the price is closet support and I am waiting for next move
This is one way of using the TVI indicator I posted earlier. Categorized based on the probability. Hope this helps..
$BIB has been consolidating with most of the biotechs as of last. Im looking for more short term consolidation, at least for another month or so, bit when it goes.....its going to run.
YES IT'S TIME TO SHORT THE BIOTECH FOR A COUPLE MONTHS REFRESHING THE BUBBLE FOR A COUPLE MONTHS IT'S NEED TO CONTINUED THE NEXT LONG TERM TARGET,
I just close my Long position on the following ETFs: XPH -SPDR S&P Pharmaceuticals EIDO - Indonesia Invstble Mkt Idx MSCI XBI - SPDR S&P Biotech BIB - Ultra Nasdaq Biotechnology Prosh. Still in place 2 lots long on: EUO - Ultrashort Euro Proshares
In a volatile market like we’ve experienced the past week, short-term traders can enjoy large gains in just few days. The money put in my position (XPH-EIDO-EUO-XBI-BIB) on last monday is at work. I provide details on exit price in the next few days
Outside BBands on daily, irrational exhuberance to the max. I would add a small short here, and add more on another candle outside the daily band tomorrow.
It would help to create alert based on RSI value over daily and hourly chart . Eg : send alert when BIB 's RSI indicator value is below 40 .