Biotech Breakdown: Market breaks Higher, Biotech Rallies (5/22/15)

Market Analysis

  • S&P continues to consolidate while holding 2120 area
  • DOW did not confirm the S&P's last 2 highs
  • Nasdaq, Russell and NYSE still have yet to hit new highs
  • Transports broke major trendline support and now appear to be moving lower, as we'd expect

Biotech

  • IBB pushed above potential trendline resistance, but will it hold gains?
  • Winning trades this week: KITE #2, RCPT, BLUE, ANDRO
  • Losing trade: KITE #1
  • Watching RDUS at 45 and 50
  • EXAS continued upward
Posted to The Biotech Trader on May 22, 2015 — 10:05 AM
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