Early Session: 11:33 a.m. EST
‘Buy its own action’, the biotech sector has posted a Wyckoff up-thrust and is reversing lower.
Stated many times on this site and in the Biotech (IBB) section, this sector never came along for the current ride to new highs.
Now, it looks like it’s in serious trouble. A lower weekly close will help confirm the up-thrust.
After four-plus years of sideways action from the high in 2015, IBB has built up significant downside potential. We’ll see.
Charts by StockCharts
Any Time, Now
It won't be long before the market is in another crisis.
Flash crashes, liquidity crunches and credit freezes are likely to bring the market down; taking the entire world economy with it.
Does the typical wealth manager have skills and market acumen (effective research) to navigate and profit from another market 'disconnect'?
My firm's answer to that question is a resounding no.
Three Ten Trading, LLC is structured as a long-short fund implementing proprietary trading strategies. As such, we are not registered by the SEC, do not provide investment advice and do not engage in paid solicitation or advertising.
This site is for the purpose of demonstrating the truth of market behavior; outlined by a market master: Richard D. Wyckoff in his text, Studies In Tape Reading, published 1910.
Charts produced by TC2000 which is a registered trademark of Worden Brothers, Inc., P.O. Box 1139 Wilmington, NC 28402.
Ph 800-776-4940 or 919-408-0542. www.Worden.com