A few of you asked to update LABU, so here is what I think.
Unfortunatley this doesn't look good. While S&P had a nice rally in the last month XBI and LABU was not able to print a rally. It was in a decline mode.
And now we have a problem as stocks (S&P) might starting to move down into the DCL XBI and LABU might test back the gap or in a worse case it might print a failed intermediate cycle....
I think the sector is waiting for Trump... I wouldn't do anything here right now...
We have to wait if Trump is supporting Biotech - the biggest opportunity for USA - or he just stays at the old sectors...
Unfortunatley this doesn't look good. While S&P had a nice rally in the last month XBI and LABU was not able to print a rally. It was in a decline mode.
And now we have a problem as stocks (S&P) might starting to move down into the DCL XBI and LABU might test back the gap or in a worse case it might print a failed intermediate cycle....
I think the sector is waiting for Trump... I wouldn't do anything here right now...
We have to wait if Trump is supporting Biotech - the biggest opportunity for USA - or he just stays at the old sectors...
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.