Following up on XBI – there was an initial 61.8% bounce after the three wave correction to point A. Looking at the trendlines drawn from the daily closes, we are possibly in a B wave triangle which would be in wave e.  Therefore either the C wave down will start now or a larger retest of the broken trendline around 88 will occur first

First target for C from this position would be 74 but there would probably be a bounce at the support line shown

RSI is showing hidden bearish divergenvce

Merry Christmas and GL to all in 2018