Biotech Breakdown: Market Decline Expected to Continue (8/14/15)

Market Analysis

  • S&P formed key reversal on Wednesday, should be heading higher in the short-run. However, a break below trendline support would most likely negate that forecast.
  • DOW in similar position
  • Nasdaq still holding trendline support

Biotech

  • IBB sandwiched between 50MA and trendline support
  • ICPT broke 232
  • KITE got hit hard
  • MNKD still testing 4
  • ARWR could be a play above 6
  • REGN fell back below 580 mark
Posted to The Biotech Trader on Aug 14, 2015 — 8:08 AM
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