123Tom's TA study group

[123tom]

see XBI at a resistance topping zone...

as I described last week,90 is a topping zone, actually its the whole mountain area from 80 to 90
90 is a double top. 80 is where the resistance altitude kicks in...
even back at 75 area is the foothill of resistance. 90 is a Double from the cycle low at 45 area. the middle zone is way down around 66 area.
XBI/small biotech ETF

If the 90 peak becomes the finished rally wave top, then the Fib retrace is looking at the 67 area as a middle zone. But the chart does have higher targets above 90...IF this 90 peak is a "wave 3" then the current pullback should stay "shallow" as wave 4, and rally again to target 100 area.
larger chart picture