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Small Cap Biotechs Slammed By SVB Collapse
Article By:
Rod Raynovich
Monday, March 13, 2023 4:47 AM EDT
Nothing like a banking crisis to start off a weekend. But maybe by the end of this upcoming week of turmoil we'll worry less about inflation.
6 Stock Market Thoughts For The Week Of March 13
Article By:
Michael J. Kramer
Sunday, March 12, 2023 2:00 PM EDT
A flight to safety seemed to be at play this week, with the market seeking safety first and asking questions later. This is not unusual, and once the situation is resolved, much of the decline in rates should reverse, with rates moving higher.
Biotech Review - Waiting For A Reset
Good analysis. However, you missed the hourly chart. The biotech correction on the daily is possibly over. Why? Because the daily averages crossed and point upward on hourly chart. Talking daily, the current candle is perfectly sitting on the trend line support and between the 10sma and 30 ema with $XBI on a intact uptrend. So all stars seem aligned for the XBI to resume in a upward channel.
Leadership (Bio-Tech) Breakout; Good Sign For Broad Market
My Simple Forecast:
Looks like $XBI has had a positive growth trend. With middle of the year approaching I believe that the cycle will repeat, thus hitting high points again. The seasonal patterns may be based on the rate of discovery of new technology, so cycles may be of unusual lengths. Nonetheless, looks like $XBI is positively correlated to SP500, and it is leading variable. We can anticipate new highs by beginning Q3.