XBI update 1/4/2017

XBI: Has likely bottomed for wave ii/b right at gap close. Not a penny more or less. It broke today above it’s (blue) downtrend line and bashed right above it’s 20d and 50d SMA. That’s bullish. Those 3 are now support. Money Flow Index has been positive over the past week showing people were buying low. There’s a lot fo + div on all TIs and the A.I. gave an ideal buy signal today. If all is correct then price is now in iii/c targeting $73.57 (in case c=a), $79.44 (in case c=1.382x a, or iii=1.382x i) or, $82.95 (in case c=1.618x a, or iii=1.18x i). We’ll not be greedy and set our first target at $73.50.

xbi