ETF - Go long on ULTRA NASDAQ BIOTECHNOLOGY ($BIB)ProShares Ultra Nasdaq Biotechnology seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the Nasdaq Biotechnology Index®.
BIB trade ideas
not worth buying nowWe into the retracement of buy ( long term ) cycle, which means a re-accumulation would happens before it starts moving upward seriously again. On the daily supply is still pretty heavy, which tells me more absorption of it have to happens and a spring ( move downward on steroid) is even a possibility to happens right now, which means price would go test lower area before going up. For me to put serious buy position I would need to see the supply calm down and a break upside 94. with some signs of strength, or a spring with some type of test back upside to the support. If I would hold buys, I would monitor carefully in case it breaks under 77. and I would get out and re-enter if the occasion occurred.
XBIoverlapped the ribbon to help with the visual. Embedded stoch and 9/20 mov avg pinch equates to more upside
NASDAQ AND S&P BIOTECH WITH HUGE BULLISH BREAKOUTSTextbook chart of an ending bottom and new uptrend starting. I don't want to miss out on this one, this could easily become the trade of the year.
The breakout is now confirmed, but i want to wait for a nice correction before entering.
S&P Biotech:
Blessings to you all.
$BIB - where is the support? 4 days ago I projected a "Pull-back" on BIB daily chart. But where will it stop and rebound? See chart for four possible targets.
$BIB $48.88 Range Cap on Daily Chart, Resistance $52, BearishFailed to push beyond daily resistance. Bearish.
BIB - Industry: Biotechnology
EPS due date: n/a, ETF
Horizontal S&R: some
Channel S&R: no
MA S&R: some, 20ma
>200ma: yes
Volume confirmation: no
Candle Confirmation: no
Stoch Divergence: no
Reg Trendline >85: no
Short Float: no
Risk / Reward: 1.2
Any feedback is welcomed.
Kind of a neutral setup. But its a beaten up sector, maybe time to bounce.
Keep an eye on biotech...Monthly support shelf is holding in cloud so far. Kijun is flat which means prices are in range .
Weekly:
We got reversal from support zone . this support has been tested 4 times and we bounced again. Still below coud and at 200 sma
Daily:
Prices testing cloud top. we have tk cross.
Watch it for now. A close above resistane might cause prices to catch up to monthly kijun sen. I will be watching this in coming week. My bias is counter bullish here.
on weekly, RSI downtrend is broken, price downtrend line soon This is the time to accumulate cheap shares before the big uptrend moves start.
Don's (CTW) SUGGESTS BIB 50% RETRACEMENT UP, PART TWODon's "TRADE-MAP" approach. BIB:
TRADE = 1. T : Time and space (Fractals); 2. R : Repeating Cycles; 3. A : Advancing Trend; 4. D : Declining Trend; 5. E : Energy in Phase Forces.
.....MAP = 6. M : Momentum and Velocity; 7. A : Analysis of Structure; 8. P : Price Performance.
When I mention "Don's Top Ten Technicals", I use the elements of the "TRADE-MAP" approach: SINCE THE BEGINNING OF APRIL IN THE CHART OF BIB:
1. The Ichimoku Cloud is rising. 2. Prices are trading above the cloud. 3. Prices are trading above the thick red Ichimoku Cloud Conversion line. 4. The thick red conversion line is also rising. 5. The thick black line is the Ki jun-Sen baseline of the Ichimoku Cloud , which is rising and above the cloud. 6. The indicator on the top of the page is RSI / Stochastic, and this is strong.
7. The top middle indicator is vortex and it is strong (green over red). 8. The Top (bar-type) indicator measures the "phase energy" of the stock, and this has turned positive. 9. The green fractal arrows are up. 10. Look to the far right on the chart, around $49.65. You will note a yellowish line on top (lips), with black dots below (teeth), and a blue line (jaw) below the black dots. Now, all three are rising, correct? This is where I ask you to use your imagination and envision these three items as the "separated jaws of a feeding alligator". This is a positive indication because the alligator is FEEDING in the uptrend. If there is a difference between this one hour chart and a daily chart, the longer term chart is much more valid. As you read in part one, the daily chart is positive.
I added a regression trend-line starting April 1, 2016. A regression line is a "fit" which takes your data and predicts the direction. This is set at two sigma, or 95% of the trading action. As you can see, the trend has reversed and is UP. Use caution if you trade BIB. I believe this is a counter-trend bounce. There is a lot of resistance around $62.00.
I will close with a quote from Bill Vaughn:
“Economists report that a college education adds many thousands of dollars to a man’s lifetime income – which he then spends sending his kids to college.”
I hope this has been helpful, entertaining, and informative. May all of your trades go well. Don.
Don's CIRCLE THE WAGONS (CTW) SUGGESTS BIB 50% RETRACEMENT UPThis is a two part thesis about BIB, the Biotechnology shares. The above chart shows you how much these shares have declined since mid-July 2015.
If you take the time to construct vertical Fibonacci time cycles and Fibonacci Circles, which I will call Don's CTW (Circle The Wagons), there is a wealth of information that you can use with your other trade techniques. Let's examine the evidence....
The Fib verticals and Fib CTW's usually align with a key event. Starting from mid-March of 2015 at Fib 0, you will see an impulse leg top and a reversal of the Ichimoku Cloud (thick red) conversion line. The phase energy (top histogram) was two days from a peak. Fib 1 was in a consolidation of price action.
Fib 2 (mid-May, 2015) was coincident with an Ichimoku Cloud conversion line (upside) reversal, as well as the phase energy (top histogram) braking to the upside.
Fib 3 (mid-June, 2015) was an upside continuation, with the thick black Ki jun-Sen Ichimoku baseline turning up.
IMPORTANT KEY EVENT: In mid-July the Fib Circle 1.618 called the BIB top, as the phase energy started to decline. This was confirmed by vertical Fib 5, which was coincident with the Ichimoku Cloud baseline turning SHARPLY LOWER, and the phase energy (top histogram) TANKED. FROM THIS POINT FORWARD UNTIL LATE SEPTEMBER please note how BIB followed the CIRCLE FIB 1.618.
Vertical Fib 8 (Nov) was coincident with an impulse leg top and a cross-over in the phase energy for a short term bounce. Circle Fib 2.618 was in a continuation pattern for the downtrend.
IMPORTANT KEY EVENT: Circle Fib 3.618 (start of January 2016) was in the continuation of the sharp downtrend (at the end of an impulse leg). There was no sign of any upside reversal because the phase energy (top histogram) WAS VERY NEGATIVE, and the Ichimoku Cloud baseline and conversion lines were heading SHARPLY LOWER.
Where are the Fibs and technicals right now?? (Last week of April, 2016).
Fib 13 (vertical) and Circle Fib 4.618 crossed each other at the beginning of April. This indicates an upside trend reversal. The Ichimoku Cloud baseline and conversion lines are heading higher (lower right on chart, long red up arrow). The phase energy (top histogram) is indicating a reversal. At this time I believe this is a bounce in a bear trend, but the retracement target is 50%, or around $60 to $63. Please move to part two, a one hour chart for BIB, where I will highlight Don's Top Ten Technicals for BIB. May all of your trades go well. Don.
