Rob Anton

#biotech indicator extremes match or eclipse dire readings at prior lows. 1) % of Bios > 50 DMA sunk to single digits. Each 5 prior times readings achieved this threshold since the meltdown -66% low in May/June 2022, rallies of +13%, +29%, +10%, +25% & +20% ensued for the $IBB 2) % of Bios above their 200-DMA matched the extreme of said May/june major Low that held for 14 months 3) With a mind boggling 421 new 1-yr lows in Healthcare/Biotech, the % of Top 250 bios within 5% of a 1-yr Low at 60%, again equaled the crash low of May 2022. Can you imagine how much worse it is among the microcap bios? $XLV $XBI

Remarkably, literally no one is interested in Calls on the $IBB over the past month (7-to-1 Put-to-Call ratio average daily), and especially over the past week (24-to-1 Put-to-Call ratio). Looks like everyone is on one side of the boat. #biotech

On the pantheon of #biotech futility, this super-bear has now ascended to the 2nd longest ever, approaching 1,000 days, as it grounds every small cap to dust, where trading at cash is the new overpriced. $XBI down -61% is a stone's throw away from the -65% June 16th 2022 low.

#Biotech nearing quant barometric extremes. 1) Real time % of top 250 Bios above 50-day moving avg (MA) down to 25%. 15% sets up Buy. 2) % within 5% of 52-week high down to 3% Buy level. 3) % > 200-d MA down to 25% Buy level. Maybe $XBI @ $75 is good risk/reward. $IBB