The market is not doing well with rates moving higher still and we all know what that means for the sector. It looks like yet another day with generally positive news in the sector and yet we will not be able to move higher. I feel like we are at the stage where everyone is […]
October 20th Biotech Update
When the market zigs when the information zags, it sends a strong signal. That was why I think PFE put in a bottom when they massively cut revenue guidance but ended up green. Last night was a set of good news for the sector (not massively so but certainly important news) and so we should […]
October 18th Biotech Update
I am back and I am not sure if everyone should be happy or sad. There was a significant selloff while I was away but the past couple of days have had a nice bounce. I honestly feel a little better with the sector right now (as I will explain below) but we have neither […]
October 10th Biotech Update
Not an awful start to the week all things considered. I still worry that this is simply reset the chart for the next move lower but I still definitely prefer being wrong on that ultimate move and that we find a way put in a bottom at this level. In order to have any confidence […]
October 2nd Biotech Update
Not a great end to the week but we are finally done with September. Everyone seemed to think that September was going to be a seasonally weak month (it certainly was true) and that we have the potential for a stronger end to the year. Of course, how much is that strength going to matter […]
September 29th Biotech Update
We ended down yesterday but I actually find the trading encouraging. There was a big move down early in the day and we spent the rest of the trading day grinding higher. We still ended lower but we had one hour of selling and the rest of the day was buying. If we can continue […]
September 22nd, Biotech Update
I thought we were heading to these levels and unfortunately we made it. This certainly needs to hold because the next real support ends up being around $62. The whole market is weak an so this is not necessarily an XBI issue but we have been in a bear market for multiple years and seemingly […]
September 19th Biotech Update
The sector is not looking that great. We are at the level that could have been the support for a range bound market but we are marginally below it. It makes me think that we are heading down to the $72.5 area but the move has been more or less straight down and so are […]
September 18th Biotech Update
So we stopped the clear downtrend when we made the move to $81 but all that did was stop us from having a lower high (we basically made it to the previous high of the downtrend). I think it is pretty clear that we are not able to start an uptrend and we are going […]
September 11th Biotech Update
Not a ton has changed. We are setting up the potential to establish a higher low but that probably needs to be done this week and I still think there is a potential to revisit the lows as opposed to stay well above them. As I noted last week, I sort of lean towards more […]
July 18th Biotech Update
So far so good this week. We definitely need to continue the strength. I would have ideally preferred to finish closer to the highs but a nice strong green to start the week is good. We are above the $85 level and not messing around this level and moving higher adds to the initial strength. […]
July 17th Biotech Update
Last week was a weird week. It looked good but there was one strong day and a lot of days that could not build on it. To be fair, those days did not look bad as the sector held up to some selling pressure as well but I would not look at them as positive […]
July 11th Biotech Update
It was a very nice start to the week, but I sort of feel like we are in a strange spot. I am not convinced that the sector is now clear of breaking down. I can easily see a couple days of weakness that puts us under the lows of yesterday. I can also see […]
June 27th Biotech Update
This is it. We either bounce from these levels or we are setup for a much larger selloff as we set a lower low. I strongly suspect that we rally as we have basically gone straight down. Even if this level ultimately fails in the next week or so, I think the selling has been […]
June 26th Biotech Update
We are running out of chances. We desperately need to find a higher low and cannot fall below $82.5 area as that would look like a lower low. On the positive, we are looking oversold after last week and so I think it would be difficult to continue the selloff and break below that level […]
June 21st Biotech Update
The trading did not start well but it ended up fine. That is quite important. We are at an area that should act as support (at least somewhere around these levels) and so not falling any further is not more important that moving higher, but it certainly is up there. It was good that we […]
June 20th Biotech Update
Not the best way to end a week but we are at what could be a level of support and I talked about this possibility. It was not the less stressful version of setting up a bullish trend but heading down to these current levels and using it as a support to a move to […]
May 23rd Biotech Update
A nice little rally yesterday and hopefully we can continue that momentum. Obviously the ideal scenario is that the sector can break out and go to a higher high after having set a higher low. To be fair, we have been in this situation before and even had a mini upward trend established only to […]
May 16th Biotech Update
The sector absolutely cannot catch a break. Everything was looking good and solid and now the proverbial rug has been pulled out. There is no recovering today. It will be red but the broader move is not done (at least it does not have to be). I think as long as this pullback stays above […]
May the 4th Biotech Update Be With You
We seem to be finally breaking out of the range especially if the broader market can at least hold up. The news continues to be good for the sector and that seems to be bring more investors and interest. As long as these new investors can make money there should be a nice momentum that […]
