March 27th, 2014: Initial BIB (Bio Tech) Wave Count
Posted by pugsma on March 27, 2014
1:05 pm EST: Here is my initial BIB (Bio Tech 2X Bull) Wave Count on the daily chart.
It looks like P3 ended at near perfect 4.21*P1 extension of 109.74. And since this 109.74 P3 high, there has been a sharp P4 correction that may have found bottom near the wave 4 of lesser degree (78.66) and the lower trend line. The 38% retrace target is 71.26 and there is major [C]=1.62*[A] target at 70.06 should BIB need to correct further than today’s 74.83 low.
BIB Daily chart (mid-day):
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