Biotech Breakdown: Correction Still Ongoing, Lower Prices To Come (8/28/15)

Market Analysis

  • S&P still in rally mode, watch for reversal or channel resistance
  • DOW pushed back above bull market trendline
  • Nasdaq could try to make it back up to 4900 area
  • Volatility subsiding until next wave of selling

Biotech

  • IBB sites just above 200MA
  • VRX pushing towards prior trendline
  • REGN testing trendline resistance
  • BMRN doing the same
  • AGIO back above 90
  • KITE tested its trendline near 55
Posted to The Biotech Trader on Aug 28, 2015 — 1:08 PM
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