Direxion Daily S&P Biotech Bear 3X Shares (LABD)

[Sendme]

FWIW I was just looking at the comparison of the ETF LABD in comparison to the IBB especially on 5/31/17 when it looked like LABD was about to break out higher and didn't.

What I see is that the IBB did break below the trend line but did not follow through any time soon after. IE a false break out/Bear trap.

IMHO it is best to see a full candle above/below a trend line and wait for a confirmation soon after of a new high/low. Which did not happen on the IBB, so even though the LABD did put in a full candle above the trend line and followed through higher the next day, if I had paid closer attention to the IBB chart, I wouldn't have bought the LABD yet.