The XBI(Biotech ETF) finished the week with a 3% gain on accelerating trade. The 200 day held support all week. Quite a bullish set up. We covered the XBI earlier this week: Biotech Breakout
The BIB(ProShares Ultra Nasdaq Biotech Index) and the IBB(ProShares Nasdaq Biotech Index) fared well this week as well.
We expect more upside for this key technology sector.
At time of publication we are long BIB in some managed accounts.