Biotech Breakdown: Markets Chop, Biotech Holds (7/10/15)

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Market Analysis

  • S&P has been volatile and choppy this week, need to watch recent lows and 2070-80 area for a break
  • DOW looks the same as the S&P, a continued fall should bring the index down to its channel support
  • Bigger market view remains down

Biotech

  • IBB broke below 368, but held the 50MA, an dis now back above 368
  • REGN bounced off trendline support
  • BMRN moving above 140
  • INCY challenging 110
  • SCMP testing 17.50 resistance
Posted to The Biotech Trader on Jul 10, 2015 — 10:07 AM
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