This One Chart Signals Biotech Is In Trouble
Well, it appears the Federal Reserve or any entity near any stabilizer fund is not propping biotech up anymore. From the lows of 1Q16, <XBI> has experienced +100% gain failing to break above 2015 highs. On a monthly timeframe, the party in biotech seems to be ending reaching an unfair high +44% premium verse the point of control at 61 handle. With an auction reversing, the target for downside is a point of control reversion.