Bull Market in Biotech
The biotech sector has weathered the current corrective cycle and shown strong relative strength versus the broader market breakdown.
The S&P Biotechnology index stalled its upside progress in February, but failed to break down and instead the index formed a bullish consolidation pattern. When a sector bucks the general market trend and moves against the grain it generally gets our attention as technicians. The resiliency in the biotechnology sector suggests to us that there is a bullish catalyst at work in the sector and we could see some interesting strength reemerge from the group once the bulls take back control of the broader market action....382 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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