Is the Biotech Sector Poised for an Upside Breakout?
- You know it’s a quiet morning in the marketplace when the #1 most read story this morning deals with the fact that Cathie Wood sold a whopping 2,000 shares of Nvidia (NVDA) late last week. However, there are plenty of reasons to think that we’ll see plenty activity as the week goes on.
- The XLV healthcare ETF has broken out in a very important sideways range in recent weeks. We’d also not that one of its subgroups…the biotechs…are testing a KEY resistance level. If the IBB biotech ETF can break above this level in any meaningful way, it’s going to be very bullish for this group on a technical basis.
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