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Strategies & Market Trends : General market lab and commentary

SPY 681.44

+1.6%

Nov 10 4:00 PM EST

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From: Robohogs	5/21/2016 5:13:44 AM
	of 668

More biotech A quick summary: XBI at top of wedges on hourly, daily and almost weekly charts XBI freshly through both 50 day and VWAP Bio indices continue to print higher lows Pastat will have issued a fresh buy alert on XBI at close Friday that works 80-90% of time Weekly candles very favorable General angle of bio upslope has not changed, just which line we are on Seasonality highly supportive until June 5 General mkt should try hopefully to get clear of 2040 SPX which would help but M- W are seasonally weak. Post opex is seasonally modestly up. Overal seasonals favorable until a few days into June A weekly signal should indicate new bull trend if we rally into next 2-4 weeks. Surprisingly, XBI stocks above 50 SMA is back to 40ish% with 20% within easy reach and 10% barely above. A full 30% is above 200 SMA. We may crash and burn. I do not trust this mkt. BUT things look better. Sentiment getting a bit high but not yet extreme. Jon

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