PDUFA in late July. Just had some profit taking from first stage of the run up. Bounced of 50MA and heading for 200MA at 10.20. If it takes that out with some volume we're looking at mid to high 10s very quickly.
2 recent wedges have been followed by a 25%+ pop in the VIX. We're now looking at an even stronger based wedge and I think we're going to see the upper teens next week, considering the Ukrainian referendum this week, coupled with multiple tops in the market, failing to close at new highs over the last couple of months. Small caps, biotech, tech, have all sold off...
