Arguably the real trend began October 2023 and look at the divergence with XBI at that point, XBI testing the 2022 lows while CU6 is retesting the stage 1 breakout
Take a look at the MTM chart and compare where it bottomed to April 7 market bottom = leading stock clue. Indeed there's several stocks in a similar area(sector) that all made lows before April 7 and made a higher low with that market bottom = lead sector clue.
Same thing happens time and again, XBI making it's low in June 2022 while the market didn't bottom till October 2022 was the clue that bios were going to lead that next bull cycle and we had names like TLX forming up long constructive bases that were also leading the market. Even in the covid crash there were a few stocks that bottomed several days before the market, iron ore/gold stocks in November 2008 while the market didn't bottom till March 2009, it happens every time. So for now, that divergence for CU6 is a pretty big clue imo
CU6 Price at posting:
$2.16 Sentiment: None Disclosure: Not Held
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