Biotech

If you haven't by now, check out my biotech post on see it market.  In short, a big move is coming soon, we just aren't sure which direction yet.

These last couple of days have seen XBI print some toppy tails.  As you can see, the action is happening at channel upper boundary resistance.

Taking a closer look at the daily chart, we see the wedge building with a positive RSI reversal.  More deets about the positive RSI reversal on the chart.

The 173-166 range is our short term tell.  That said, the R/R short is favorable given a decent open(risk 4 points to make 16 points).

Trade 'em well