buy modafinil uk cheap Biotech Sell-Off Stops Bear Market Rally
Lyrica purchase online australia After a strong November and a rally from October lows biotech stocks broke down today along with the overall market. Keep in mind that it has been a bear market rally with expectations of a seasonal move up. There are plenty of possible reasons for the market weakness both macro and within the healthcare sector:
- There is a lot of negativity on drug pricing especially on the Gilead (GILD) HCV drugs. GILD down 2.93%
- The must pass US spending plan from Congress may miss the December 11 deadline.
- Terrorism and war in Syria is a constant backdrop. Even Yellen mentioned it.
- FED liftoff with higher interest rates despite a recovering economy.
- Healthcare spending up 5.3 after a five year downtrend.; Obamacare and drug pricing fueled uptick.
- Crosscurrents from Euro uptick and ECB decision disappoints.
- IBB down 3.58%, XBI down 3.89%, XLV down 2.19%. Red screen dominates. Main winners are random small caps.
go site Watch technicals on IBB and XBI have broken down in the channel and SMA 20 is red with SMA 50 support at cusp. Caution as there may be more healthcare sector selling.
Update over the weekend.