Clean Sweep For Biotech

Clean Sweep For Biotech

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...
Biotech Breakout?

Biotech Breakout?

XBI(Biotech ETF) is beginning to put some distance on the 200 day moving average.  The index began this week with a powerful upside gap and, with today’s 1.7% gain, XBI has extended its rally off the February lows to 11%.  The XBI is headed for its first weekly...
Biotech Update(Pullback Ahead?)

Biotech Update(Pullback Ahead?)

Is the Biotech bounce coming to an end?  The $IBB(iShares Biotechnology Index ETF) has traced out a powerful rebound following a steep December sell off.  At last week’s high the index had gained over 23% from the Dec. 24th spike low.  This impressive move has...
Biotech Sector On Fire

Biotech Sector On Fire

The IBB(iShares Nasdaq Biotechnology Index)is surging over 3.5% today.  This powerful breakout move, which is the indexes best gain of 2018, has driven it past the June and February highs.  The IBB is setting up well for a retest of the 2018 peak($119.30). ...