It looks like someone likes the Biotech ETF this year, as demonstrated by the percentages gained on IBB plus the 9 Major Sectors, as shown on the following Year-to-date graph.
And with IBB poised for an upside breakout above major resistance, it's one to watch, as shown on the following IBB + Major Sector charts.
Lastly, let's see if IBB can begin to outperform the Nasdaq 100 Index (NDX), as price now sits at major support on this IBB:NDX ratio chart. In that case, watch for the RSI to rise and hold above the 50 level and for price to break and hold above the 50-day moving average.
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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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UPCOMING (MAJOR) U.S. ECONOMIC VENTS...
* Mon. Apr. 1 @ 8:30 am ET ~ Core Retail Sales & Retail Sales
* Fri. Apr. 5 @ 8:30 am ET ~ Employment Data
* Wed. Apr. 10 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
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* Wed. Apr. 17 @ 2:00 pm ET ~ Beige Book Report
* Fri. Apr. 19 ~ U.S. Markets Closed for Good Friday holiday
* Wed. Apr. 24 @ 3:30 am ET ~ German Flash Manufacturing PMI (watch for a hold below 50)...N.B. Jan. 24 PMI came in at 49.9, Feb. 21 PMI came in at 47.6 & Mar. 22 came in at 44.7 (contraction mode deepens!)
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