Extreme caution is prudent for anyone trading the breakout which looks to have occurred at the 9/15 close. On the all-time time frame, Stoch RSI has hit 100 implying extremely overbought conditions on the weekly. Conditions like this usually significant corrections. I expect $72-74 to be tested across Oct-Nov before the push resumes to new ATHs. For the wave counters, completion nears for minor 3 of intermediate iii. Chop and a slow grind upwards from here.
Also note the significant RSI divergence between the July-15 ATH and where XBI trades today. On macro timeframes, ostensibly this is the Major-5 which will complete a primary wave cycle at its conclusion over the next 12 - 18 months. After that I expect a primary correction testing, and likely breaking, the major, medium-term low at $44.16. Good luck to your trading!
Also note the significant RSI divergence between the July-15 ATH and where XBI trades today. On macro timeframes, ostensibly this is the Major-5 which will complete a primary wave cycle at its conclusion over the next 12 - 18 months. After that I expect a primary correction testing, and likely breaking, the major, medium-term low at $44.16. Good luck to your trading!