I feel like the sector is in a better place to start this week than the start of last week. I have been thinking that we are closer to the end of the consolidation than the beginning and the trading last week reinforced that view. If we can build on that move early this week, […]
January 31st Biotech Update
We seem to be doing a little better today but not really getting any momentum to the upside. We have an upcoming rate decision but I doubt that will be market moving unless the commentary comes out unexpectedly bullish or bearish on rates. I suspect it will be continue to follow the data and while […]
December 19th Biotech Update
The sector has been holding up pretty well. I have been in the camp that we are going to have a little correction via price in the near term (I think down to around the $81 level looks like solid support) but up to this point the correction have been through time (sideways trading as […]
November 20th Biotech Update
It was a good end to the week and let us see how we start. I do not know how to really read the moves this week as I suspect it is going to be pretty slow on the news and the volume front. This morning is probably pretty indicative as to what we would […]
November 16th Biotech Update
It looks like we are breaking above the recent high and are setting up the potential of an actual uptrend. I would be cautious as we have been disappointed before, but this is about as good the sector has looked in a while. The gap between the sector performance and the broader market is very […]
November 13th Biotech Update
We had a nice little reversal on Friday and that could set us up well into this week. We certainly need to build off of that move and have a solid week of green. We had some nice solid news this weekend on the data front that could stimulate some more fundamental interest in the […]
October 19th Biotech Update
And just like that the potential relief rally is over. We are breaking new lows and the little rally looks like another lower high. I had at least one day of potential hope for the sector but my long-standing view that we are heading to the $62 area seems unfortunately accurate. Of course, there is […]
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 25th Biotech Update
I think teetering is the word I would use to describe the sector. While a lot of the poor performance is sector related, I see this as more of a broader market issue with risk off hitting the whole market and that impacts the sector as being a risky sector. We have both interest rates […]
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 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 […]
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 30th Biotech Update
Teetering? Is that the best way to describe the sector at this point. I thought we had a chance with the FTC news to start the week to try and break out of the downtrend. It is starting to look like all it has done is get us to a point that looks like a […]
July 13th Biotech Update
While we are not out of the woods, it looks like the week is going in the positive direction. I would have ideally preferred a more consistently stronger week, but we are grinding our way higher. Unfortunately, it looks like the vast bulk of the move is one great day but if we can get […]
July 5th Biotech Update
I suspect we are going to have a slow week even though the holiday is over. The summer is generally going to be slow as people are out of office and with a holiday landing on a Tuesday, my hunch is that this week is going to be slow for even the summer. I do […]
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 22nd Biotech Update
Incremental. That would be the word I use to describe the action in the sector outside of the big down day earlier in the week. I do not read this as necessarily bad as there has been ample opportunity to accelerate the move lower given we are hanging out at these levels but that follow […]
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 […]
