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Simon, appreciate your feedback…
From a daily perspective the bears need the price to stay below the 50 SMA and hope this is another bear flag formation ready to break down…
Also, since the 50 SMA contained the price in bear flag formation last time; “ideally” would like to see the 34 EMA contain this move as IBB gets progressively weaker…of course, this is through bearish goggles…
Thank you.
No positions at all at present and highly unlike to take any until Monday at the earliest. Even if there is a violent move post-Yellen there can be a violent reversal from Monday onwards so I think it’s a fool’s errand. Plus, the US is still conducting military exercises with South Korea until 31st, which the North Koreans view as provocation, so the US & South Koreans are, currently, poking Kim with a stick.