SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : John Pitera's Market Laboratory
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: John Pitera who wrote (17969)3/18/2016 10:58:00 AM
From: The Ox  Read Replies (2) of 33421
 
I would suggest there's a very strong correlation between IBB and the RUT in the same fashion that we have a very strong relationship between WTIC and SPX.

If your comments that RUT is the key, well, it's very important that the IBB start to show some strength. I would note that the BIB a different biotech tracker has finally seen it's RSI(14) fall below 30, which is often where the signs of a washout start to show.

I made a note around June 1st of last year to watch for one last move of the RSI over 70 as an indicator that shorting biotech would be a possible call. With the opposite now possible going forward....watch for signs of strength going forward but be patient..... until such time that a reversal looks like it's taking place.

Message 30085149

Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News