Can IBB Power Even Higher From Here?

IBB has been in close focus for Redler All-Access this week.

On Monday, I told readers this:

The bios held in well and perked up as IBB held $115 and cleared $117. Perhaps this week it gives a better move above $118.40 towards the $120 highs. We’ll look for clues.

I ended up getting long during the day as it cleared the $118.30 area.

If that level holds, I'll try and stay in. In time, it seems like it should clear $119.78, then $120.06 for more upside. So keep those levels on your radar.

If we're talking AMD, we should cover NVDA too.

There was a big Red Dog Reversal buy signal last Monday around the $243.73 pivot. It also had power to clear $263 and hit $278.90 yesterday.

I would not chase it here. Maybe it gives a cute short opportunity but I'll proceed carefully in any case.