Well, this is why I thought that there was not a clear election outcome that would be all bullish for the sector. The nomination of RFK to head HHS sent the sector down and regardless of what one think about the nomination, it increases uncertainty. He has talked about removing vaccine approvals, blocking others, and […]
Halloween Biotech Update
Happy Halloween and it is a little scary out there right now, although only a little. We still are in the middle of the range and with the election coming next week, I am not convinced we get a significant move before that clarity (although I also doubt we get full clarity after the election). […]
October 7th Biotech Update
Perhaps we are trying to setup a higher low but the sector seems to be struggling a little to get a lot of traction. I do not worry too much about it as long as the recent low holds but we have been hanging out at these levels for a little too long for complete […]
August 19th Biotech Update
I am moved and have a setup where I can do some work. Still have a lot of unpacking and work to do but time to look back at the market and see what has been happening. It looks like we have climbed up to some resistance. We appear to have had a nice little […]
June 3rd Biotech Update
We are sort of hanging out at these levels. Perhaps we have a modest little downtrend but I sort of see the sector more in a holding pattern more than anything else. I know we are waiting for inflation and rates to move down and our expectations are that it helps the sector. What if […]
May 20th Biotech Update
It is sort of a low new week to start off and I will simply be following up on some older news that slipped through the cracks as I do not see anything really pressing this morning. Ideally we will continue our move higher and build some real momentum in the sector but there is […]
May 8th Biotech Update
It has been a grinding sort of week. I do not necessarily see hanging around these levels as necessary bad. Putting in some time to generate some support is good but that assumes that we eventually continue higher. I am sort of getting my wish of stable rates. There seems to be a growing view […]
February 22nd Biotech Update
Are we at the pullbacks that refresh stage? The past couple of days have not been great but we are still hanging out at the top end of the range. This bouncing around at these levels is resetting any overbought conditions and makes a breakout more likely to cause a run as opposed to being […]
December 21st Biotech Update
Not the best day for the sector as trading slows down closer to the holidays. I had been thinking we pullback further but even a 1% decline basically keeps us in this sideways range and then the afternoon happened. It was not clear why the market suddenly decided to correct through price, but I was […]
September 27th Biotech Update
Yesterday was a better day. The market was weak and yet the sector outperformed. That is quite the rare occasion. It had been such a brutal month, there was bound to be a day in which the selling eased. There was some news that could have driven the outperformance but was that simply an excuse […]
September 7th Biotech Update
I do not think things are as dire as they may feel in the sector. Obviously, if the broader markets weaken (and this is traditionally a weak month), then the sector will not be able to withstand it. If you squint your eyes just right, we have actually moved higher than the previous lower high […]
August 17th Biotech Update
Well, the lower low seems to have been put into place as the sector is acting pretty heavy, which is no surprising given that the broader market appears weak as well. I think we end up get to the 52-week low area for the sector (around 72 on the XBI) before we likely get real […]
August 15th Biotech Update
The sector is not doing great nor is it really breaking down. We are perhaps in the post earnings, late summer malaise that drifts. Of course, that does not mean that we cannot have significant movements or price action in particular names but I suspect that we are going to be slow on the trading […]
July 25th Biotech Update
The sector has me worried a little as it is holding up but cannot follow the market higher. There has been real strength in the broader market but the sector has barely been able to eke out anything. What happens when we get a broader market correction? In some ways, the sector is perhaps next […]
May 5th Biotech Update
I think this week has been pretty good for the sector. Ideally we can keep it going with a nice strong close. Given the number of merger Mondays we have had recently, there should be an underling bid into the weekend but who knows what the macro is going to do to the market with […]
March 17th Biotech Update
Volatility continues as questions around banks both at home and abroad remain. The actions to support a number of banks has also been met with a lukewarm response. There were initially a positive reaction but that has seen tapered off as questions remain both on the individual banks, the banking system, the economy, and the […]
January 18th Biotech Update
Not the best start to the week but to be honest, it is not surprising that we get some weakness as we were stretched to the top of the trading range. I still would not rule out of break this week but the chart probably needed to reset the overbought conditions in the near term. […]
December 29th Biotech Update (Prediction reviews)
We end the year hopefully on an up note but nothing has really changed about the sector. We are range bound and a drifting in the range. The length of time spent in this range really makes it into really strong support or resistance for the move. It makes me think that when we do […]
November 3rd Biotech Update
Guess what? The Fed speaks and the market declines (along with the sector). As I said the earnings season has been quite good for the sector but as I have also said one should not try and fight the Fed. As long as the perception is higher rates for longer, then I do not see […]
September 8th Biotech Update
Sorry for the little break. I am hopefully back and at it. The sector has not done great but it does not look too bad either. There have been lower lows and lower highs, which signals a clear downtrend but it seems to have been pretty orderly and we are now back to the old […]
