If you look at the 10-minute chart of the SPX you will see a lousy opening. That lasted until about 10:30 and then the buyers stepped up. The chart was basically the same on the other indexes too. For you newer subscribers its good to know that I rarely take stops in the first hour because that can be the "knee-jerk" hour, positions get squared and fear and greed can get a little out of whack. Many time (especially in a bull tape like we are in), prices will recover.
QURE gave us incredible angst yesterday and then popped 60% today on record volume today. Go figure.
I am limited to time tonight, but biotech also started out weak then rallied a bit, but it still closed down on the day and it was yet another day that the sector saw a lot of 4-5% losers. I'm still bullish for now though.
XBI held some more support but now needs to take back that 21-day simple moving average which is up at 86.50. It closed today at 85.71, so we're still in the game.
I'm on the hunt for some more ideas, stay tuned.