Brief Update - Week ending - 10/10/2014 - Stock Charts/Stock Scans
Check this chart for biotech ETF IBB - closed below 13 week moving average for 1st time in around 12 weeks. This is a major short - see the MACD and RSI - close your biotech stock positions - this sector is going down - short IBB and biotech sector. We are short GM/HPQ/SNDK and biotech sector. Next test level will be the 50 week moving average - around $244. Watch this level closely.
Here is the chart:
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| IBB ETF - Weekly Chart |
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