2022-08-08

Rally Done? Biotech Candle

IBB doesn't have as nice a (potential) reversal candle, but it is failing at the 2015 high...
The ratio chart of biotech to Nasdaq, and energy, both point to potential outperformance. For this reason, I'm not targeting biotech ETFs for shorting. At this moment, I also have no bitoech stocks on my radar. That said, I used this to time the rally and a reversal would support thinking the market rally in ending.

Update: Candle has improved into the afternoon, but still signaling a peaking rally.

No comments:

Post a Comment