{"id":37004,"date":"2016-11-10T02:26:49","date_gmt":"2016-11-10T10:26:49","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=37004"},"modified":"2016-11-10T02:26:49","modified_gmt":"2016-11-10T10:26:49","slug":"ishares-nasdaq-biotechnology-overcomes-first-bash","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2016\/11\/10\/ishares-nasdaq-biotechnology-overcomes-first-bash\/","title":{"rendered":"The iShares Nasdaq Biotechnology (IBB) Overcomes Its First Bash"},"content":{"rendered":"

The iShares Nasdaq Biotechnology (IBB) suffered three important “bashes” starting in September, 2015 when Secretary of State Hillary Clinton promised to end price gouging by drug makers<\/a>. Since then, a similar promise in August created a fresh top in IBB and a bash by Senator Bernie Sanders created a breakdown below 200-day moving average (DMA) support.<\/p>\n


\n
\"The<\/a>
The iShares Nasdaq Biotechnology (IBB) broke out anew thanks to a Clinton loss in the U.S. Presidential election.<\/figcaption><\/figure>
\nSource: FreeStockCharts.com<\/a>
\n<\/center><\/p>\n

A Donald Trump victory in the U.S. Presidential election breathed new life into the sagging ETF. The chart above shows that IBB gapped above resistance at BOTH the 50 and 200-day moving averages (DMAs). IBB closed with a whopping 8.9% gain. <\/p>\n

Perhaps most importantly IBB finally overcame a bash. The Bernie Bash is now in the rear view mirror. Assuming the 50DMA now holds as support, I foresee a quick test of Clinton Bash two around $300. Unless a triple top is in IBB’s future, a fresh rally should challenge the levels from the first Clinton Bash. This trade is one of many Trump-related trades now on my radar…<\/p>\n

Full disclosure: no positions<\/p>\n","protected":false},"excerpt":{"rendered":"

The iShares Nasdaq Biotechnology (IBB) suffered three important “bashes” starting in September, 2015 when Secretary of State Hillary Clinton promised to end price gouging by drug makers. Since then, a similar promise in August created a fresh top in IBB and a bash by Senator Bernie Sanders created a breakdown below 200-day moving average (DMA) … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[482,300,62],"tags":[1800,1522],"class_list":["post-37004","post","type-post","status-publish","format-standard","hentry","category-breakout","category-health-care","category-technical-analysis","tag-donald-trump","tag-ibb"],"yoast_head":"\nThe iShares Nasdaq Biotechnology (IBB) Overcomes Its First Bash - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2016\/11\/10\/ishares-nasdaq-biotechnology-overcomes-first-bash\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The iShares Nasdaq Biotechnology (IBB) Overcomes Its First Bash - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"The iShares Nasdaq Biotechnology (IBB) suffered three important “bashes” starting in September, 2015 when Secretary of State Hillary Clinton promised to end price gouging by drug makers. 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