$LABD Trading Strategy Based on CPI Data
$Direxion Daily S&P Biotech Bear 3x Shares(LABD)$ - Update (Not Positioned, yet)
I Inverse the $Spdr S&P Biotech Etf(XBI)$ chart (you can do this via 'ALT + i') as a showcase of its consecutive higher lows price action development which is equivalent to LABD (Inverse long 3x).
I’m eager to position into this if the market gaps up at the open (after the 8:30 AM CPI data) without participation from $Health Care Select Sector SPDR Fund(XLV)$ and XBI. Selling the gap-up at the open has been a go-to strategy for day traders this year.
Do note of risk to friday's pre-market PPI data after today's pre-market CPI.
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