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Biotech Leads the Way
The volatile biotech sector could be on its way to making a test of the highs.
Jeffrey Cooper    

This article was originally posted on the Buzz & Banter where subscribers can follow over 30 professional traders as they share their ideas in real time. Want access to the Buzz plus unlimited market commentary? Click here to learn more about MVPRO+.

The NDX scored its best day in a month yesterday.

But, is it carving out a right shoulder of a little Head & Shoulders top as shown in this chart from yesterday's Daily Market Report? [subscription required]



Yesterday, the biotechs led stocks higher with names like Pharmacyclics (PCYC), which pivoted out of a bull flag, and Celgene (CELG) and Gilead (GILD) showing strength from consolidations.

Indeed, The ProShares Ultra Biotech ETF (BIB) is on the verge of breaking out of a triangle, and continuation could see a test of highs which ties to the upper rail of a rising channel in late August.



Twitter: @JeffCooperLive

Get Jeff's commentary plus day & swing trading ideas each day with a FREE 14 day trial to Jeff Cooper's Daily Market Report.
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No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Biotech Leads the Way
The volatile biotech sector could be on its way to making a test of the highs.
Jeffrey Cooper    

This article was originally posted on the Buzz & Banter where subscribers can follow over 30 professional traders as they share their ideas in real time. Want access to the Buzz plus unlimited market commentary? Click here to learn more about MVPRO+.

The NDX scored its best day in a month yesterday.

But, is it carving out a right shoulder of a little Head & Shoulders top as shown in this chart from yesterday's Daily Market Report? [subscription required]



Yesterday, the biotechs led stocks higher with names like Pharmacyclics (PCYC), which pivoted out of a bull flag, and Celgene (CELG) and Gilead (GILD) showing strength from consolidations.

Indeed, The ProShares Ultra Biotech ETF (BIB) is on the verge of breaking out of a triangle, and continuation could see a test of highs which ties to the upper rail of a rising channel in late August.



Twitter: @JeffCooperLive

Get Jeff's commentary plus day & swing trading ideas each day with a FREE 14 day trial to Jeff Cooper's Daily Market Report.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

More From Jeffrey Cooper
Biotech Leads the Way
The volatile biotech sector could be on its way to making a test of the highs.
Jeffrey Cooper    

This article was originally posted on the Buzz & Banter where subscribers can follow over 30 professional traders as they share their ideas in real time. Want access to the Buzz plus unlimited market commentary? Click here to learn more about MVPRO+.

The NDX scored its best day in a month yesterday.

But, is it carving out a right shoulder of a little Head & Shoulders top as shown in this chart from yesterday's Daily Market Report? [subscription required]



Yesterday, the biotechs led stocks higher with names like Pharmacyclics (PCYC), which pivoted out of a bull flag, and Celgene (CELG) and Gilead (GILD) showing strength from consolidations.

Indeed, The ProShares Ultra Biotech ETF (BIB) is on the verge of breaking out of a triangle, and continuation could see a test of highs which ties to the upper rail of a rising channel in late August.



Twitter: @JeffCooperLive

Get Jeff's commentary plus day & swing trading ideas each day with a FREE 14 day trial to Jeff Cooper's Daily Market Report.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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