7/17/19:  IBB Short Closed:  Profit, 4%

 

In the search for the big move, there will be small losses and small gains.  A short in the Biotech sector (via BIS inverse fund) was closed out on the 16th for a modest 4% gain.

 

As noted in the 7/15/19 update, Biotech may be in a breakaway to the downside or a spring or both.

 

Today, IBB price action is showing buoyancy and remains in spring position; pushing (as of 12:15 p.m. EST) higher.

 

This action puts the 110.93, high of July 3rd into play for a possible up‑thrust with a potential daily MACD bearish divergence.