Chart of The Week: Nasdaq Biotech ETF IBB

This column is my opinion and expresses my views. Those views can change at a moments notice when the market changes. I am not right all the time and I do not expect to be. I disclose all my positions clearly listed on the page, and I do not trade my account on the stocks spoken of in this column unless fully disclosed. If that does not work for you stop reading and close the page. Do not bother me or harass me.

Otherwise, enjoy the column!

Subscribe to the Monster Stock Market Commentary and join the 2,568 subscribers getting it for FREE every day!

[vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_tweetmeme type=”follow” follow_user=”Michaelmottcm” large_button=”true”][/vc_column][/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_column_text]

THE CHART OF THE WEEK: NASDAQ BIOTECH ETF – IBB

The Nasdaq Biotech ETF – IBB has broken out just this week after a month-long period of consolidation. If you have been reading this column regularly then you know we have been bullish on the biotech sector since the start of the year. For now, there appears to be some consolidation occur around the $343 technical resistance. Ultimately it seems likely that resistance level will be surpassed. You can watch the video below to get a complete breakdown and analysis.



ibb by Scorpio244 on TradingView.com

For the Week Ending October 13:

[poll id=”3″]

Subscribe to get this our FREE Market Commentaries

or

[vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_tweetmeme type=”follow” follow_user=”Michaelmottcm” large_button=”true”][/vc_column][/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_column_text]


IBB Chart

IBB data by YCharts