XBI (SDPR S&P Biotech ETF) Posied for Upside Continuation?

Mike Paulenoff MPtrader

XBI (SDPR S&P Biotech ETF) continues to carve out a high level bullish digestion pattern that when complete, should resolve itself in an upside continuation thrust that propels XBI to a next target zone of 85.80-86.20. Only a decline that prints 82.60 will invalidate the current, promising near term set up.

Author

Mike Paulenoff

MPtrader

Michael Paulenoff has been a student of and a participant in the world financial markets for the past 26 years, since his graduation from the Georgetown University School of Foreign Service in 1979.

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