ETFs have not helped as portfolio fillers but they can identify trends. We should play this rally out of a biotech bear market.

Biotech stocks remain sluggish but the longer-term outlook for breakthrough therapies - gene therapy, obesity, CNS, RNA - remain positive.

The overall market sentiment has been hit hard by MACRO concerns. The dominating narrative is the Fed and the Debt Ceiling.

Biotech stocks were more constructive last week with some sharp moves up.

Despite a strong month and a great finish to the quarter, many traders remain cautious about the market. It’s been a volatile time after the collapse of Silicon Valley Bank, but the first quarter of 2023 was quite good overall.