2 big support areas for IBB. We're currently sitting at this short term support area which also happens to be the 50 day moving average. A break here will be the 240 area which also happens to be the support area during early February. Watch these levels. A harsh break in IBB will likely carry QQQ with it as well since there's been search for yield. I'm...
Here we are today. Financials breaking down and under performing. Biotech going parabolic. SPY and XLF is scaled left and Biotech index and QQQ scaled right. I think IBB will continue to run for a bit longer but any harsh snap in this industry will likely be similar to what happened in 2000s. Speculation will burst, and people will be running out the doors. ...
We've heard that financials have led this rally too new highs and we need financials to continue to run. It isn't until institutions need to find more yield and start investing in speculative areas such as IPOs and Biotech (this should sound very familiar). This run on financials and SPY is amazing (scaled left) . Biotech and QQQ/COMP is just as...
Past couple of weeks TLT has found a new support level at 105 and 50d. Currently hitting resistance at 109 area. A break out in this and GLD could push for higher prices. Watch how equity markets react
