Bulls In Charge

Dow: +98.76… Nasdaq: +44.34… S&P: +14.06. The IBB finally poked above and closed above that lateral resistance we’ve been watching. It could have broken out in a more convincing fashion, but I guess I’ll take it. A couple of things are behind us now, the Fed and the BOJ.  Yellen doesn’t seem to want to…

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Biotech Fever

I’ve been talking about biotech a lot lately as you know. As Willy Sutton said, you go where the money is. If you read last night’s post (and preceding analysis) you know that the XBI broke out yesterday. Today IBB added 4 bucks and is oh so close to breaking out.   If Hillary can…

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The Waiting Game

We continue to chop around within that box and we will for another day or two as the Fed and the BOJ do what they do best on Wednesday and Thursday of this week. Probably the most significant event for me today was that biotech, (specifically XBI), finally broke out above some key lateral resistance….

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Hey, It Could Be Worse

When I look at the sector charts above I think to myself that we could be in much worse shape. Yes, we’ve had a market pullback, and volatility is back, but based on the crappy action above, we’re in good shape.  The only sector that’s respectable is technology.  XBI (biotech) isn’t listed, and that’s been…

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