XBI faces a short-term pullback to 144-150 but remains poised for new highs by year-end.
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Okay, so this is the XBI on the intermediate term. It has been rising. It has been acting great. Every flag has turned up on the upside here as you can see right here and right there.
But now we are starting to really stall out a little bit versus that 170 area.
97 to about 1019 is when that low is due. What is happening with this overall translation really really strong? This is a right-hand translation where we have used up most of that cycle rallying.
It's it is leaving a short window of time for a pullback after which we would be looking for still new highs uh here as we get out out likely into year end uh in the XBI.
So a really strong pattern on the downside we have right around 150 to 144. and in the short term 929 to around 108 is when that low is due. Clearly uh you know clearly stalling out here. RS is now down. Slim ribbon is neutral.
So now we would be looking for a series of lower highs and incremental lower lows. 15375 to right around 150 are our closest areas here on the uh on the downside for the XBI. So something to be aware of.
This was obviously a leading sector that is now starting to lag.
And as uh as you can see there you can just type that in shortterm slightly bearish here. Intermediate term neutral. So you know clearly some weakening happening as per the MCM
What this channel has said about $XBI
Steve Miller has only this one call on this stock.