5/17/17:  

Biotech Break

If there’s one sector that has the potential to essentially go straight down, it’s Biotech.

Some months ago, David Stockman analyzed the sector and summed it all up in two words:  “bottled air”.

From the chart we see that IBB has retraced 38% of the prior move (culminating in an up-thrust during March of this year) while at the same time, continuing to post Fibonacci time relationships.

If the Fibonacci time relationship continues, there may be a low occurring some time in April of next year.

Where that low may occur, may be noted on a later chart with projected values.