$LABD - The Setup That Kept Resurfacing
$Direxion Daily S&P Biotech Bear 3x Shares(LABD)$ - The Setup That Kept Resurfacing
I was stop out intraday on an attempt on 10/10 when $Spdr S&P Biotech Etf(XBI)$ broke down to its 100-MA that coincide with the highlighted horizontal support, before reclaiming to day high.
At this juncture, rising 100-MA at XBI has already been violated, now a clean support breakdown at $95.50 will need to trigger a follow through.
XBI remains one of the weakest group with 1-month RS is at only 8 now
It make sense to long inverse instead of short on cost basis
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