I commented this earlier week about how ominous the biotechnology index ($BTK) looks at the moment, and right now it appears like the final shoulder has gone in. We had a brief test of the EMA(34) on Friday but it closed back inside our ascending bearish wedge. Even the RSI and Stochastics look to be crossing over. Investors can take advantage of any fall in the biotechnology sector by using LABD or BIS. I expect a breakdown next week and I've listed biotechnology as a strong short/sell.
speculative long/buy here.