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Strategies & Market Trends : General market lab and commentary

SPY 670.92

+0.1%

Nov 7 4:00 PM EST

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From: Robohogs	6/10/2016 7:38:23 AM
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EVERYONE jumping on the bio crash bandwagon again. Comments at stocktwits over the top. Measurable metrics back to early May lows. XBI was at 49/50 from 55 just 1 week earlier and 58 2 weeks earlier. Given these metrics I suspect the 21 ema MAY hold in low 56s - was penetrated by premkt already but bud now above. If not high 55s represents a major fib level with next in mid 54s. Bearishness ramped quickly for a 5% so far drop. Jon

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