So, does Biotech break down this time? I did not then and do not now like that bull trap candle that got placed on the chart in March.
Bio has not broken down technically, but it has abdicated leadership to the Internets as we noted in NFTRH 340. Here are a couple charts of that situation…
First BTK vs. NDX continues to abdicate…
Internets vs. NDX has been up trending for all of 2015…
Here is the nominal DJINET…
The point I made in this week’s report is that stock market sectors are doing what commodity components used to do; they are rolling from one momentum-driven speculation to another Uranium→Oil→Copper→Silver style. Healthy? Nah. Is what it is? Yah.
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