Most-Interesting Chart of the Week
Psychedelics
Psychedelics ETF PSIL 0.00%↑ just did something I love: it successfully retested the long-time $16 ceiling as support. Two years of sideways churn tell me value buyers have been loading quietly; now price is pinched between rising demand at $16 and that VWAP lid.
My discretionary plan is simple:
Trigger ≥ VWAP (~$17.30).
Risk ≈ $1.50–$2.00 (invalid below $15.50).
Reward zones: prior supply at $25 (3 : 1) and stretch $42 (10 : 1).
Trade the ETF if you prefer sector beta, or consider sprinkling among names like MNMD, ATAI, and CMPS if you’re looking for a single big winner. Remember: psychedelics behave like biopharma, not cannabis—expect binary FDA headlines and gap risk.
If you want these setups in your inbox—complete with back-tested stats, stops, and real-time alerts—jump on the free list at www.statsedgetrading.com and start trading with a proven 25-year edge.
Get away from the screens,
Michael Nauss CMT