Biotech in Trouble?

I was bullish on biotech this summer as you know if you were reading back then. I set an alert on XBI's green trendline with the name "Biotech in Trouble?" It triggered near the close today. It's weakness strikes me as bearish and a follow-through on weakness would be bearish in general since this is one of the better performing rally sectors. Conversely, IBB the large-cap biotech still has an inverse H&S pattern going. Since XBI is more volatile nd smaller market cap, I view it as signaling market weakness. I also included large cap pahrma (IHE), small cap (XPH). medical devices (IHI), providers (IHF)

and the overall healthcare sector (XLV).

Short Health Insurers

Probably going to say short everything soon, but there are potential double tops in this sector with the sector itself already rolling over in a broadening megaphone pattern. I included stocks with large weights in the sector even if their charts aren't terribly bearish.

The Entire Health Insurance Sector Gets Blasted

Supposedly because of Humana's medicare advantage news, but the market ignored the drop until the noontime hour, when suddenly the whole sector started a vertical decline. My take: this is what the entire stock market will look like soon. This is panic reflective of the overall market's true psychology. Maybe Pelosi's gift (the ACA) of billions of dollars each year, ripped from middle class pocketbooks and the U.S. treasury, has run out. Bad news for the rest of the economy if USG is trimming subsidies for Medicare too, since it means the money printer may be dialing down.

She's Out Back Counting Stars

11/6/2019: Maybe a shooting star...the whole sector of healthcare providers is worth getting acquainted with if only because it's likely the Democrat nominee in 2020 will cause at least one panic for the industry.

11/7/2019 Update: Looks like more room for a bullish thrust