On June 24, 2024 I wrote a daily called, Big Brother Biotechnology Sector Revives.
“IBB sits just below the 200-WMA. Plus, he is in the middle of the weekly channel range. Furthermore, back in May, IBB handily cleared above the 50-WMA.
We have eyes here next week as the weekly close was solid and IBB could hit 140or higher.”
I also included the top holdings
I ended the Daily with this:
Should IBB hold over 140 as the week and end of the month progresses, we see a potential $20 move up from here.
IBB is back over 140. What comes next?
ETF Summary
- S&P 500 (SPY) 5400 support 5600 resistance
- Russell 2000 (IWM) 197-205 tightest range to watch
- Dow (DIA) 40k resistance
- Nasdaq (QQQ) all-time high
- Regional banks (KRE) Watching the range 45-50 CAREFULLY
- Semiconductors (SMH) 260 -280 range
- Transportation (IYT) Not pretty under 64
- Biotechnology (IBB) 140 cleared-now needs to hold
- Retail (XRT) 200-week moving average support at 72.75. Needs to recapture 74.50
- iShares iBoxx Hi Yd Cor Bond ETF (HYG) Pointing more risk on for now