The sector continues to do well this week on not necessarily all positive news. My refrain will continue to be that we are range bound until proven otherwise and so.

We have some interesting news today (positive and negative) with some interesting read through. I still think the base case is that the sector is in a range until proven.

We start off a little weak this morning, which is not completely unexpected given that we are at the top end of the recent range. Obviously it would be nice.

The sector faded yesterday and seems to be in a little range between $80 and $86. This is not necessarily a bad thing after the big bounce we had. Sitting.

There might be reason for optimism in the sector. The XBI seems to be breaking above its recent range and the $80 level might have been support for this new.

The sector seems to have gotten its footing in a way I was not expecting. Perhaps there is a bigger underlying bid than I thought. Perhaps the dovish turn in.