It was a great trading day! Made 18% shorting Natural Gas using DGAZ. Sold 50% today. Still expecting more down side potential.
Anyway, on to Biotech! I've been patient and waiting for Biotech to close below the 10 MA. I am expecting the daily cycle to make a low (DCL). I drew in a sine line so you can visualize the cycle that I'm talking about.
I expect price to BREAK the dashed black line. Its in the timing band to make a low.
I should have bought today , but missed. If I get a good entry tomorrow, I'll post.
Instrument: LABD (3X inverse ETF)
Have a great evening!