Biotech Breakdown: Market Rally Reaches Resistance, IBB Hits New Highs (10/24/14) | Marketfy

Christian Tharp

Biotech Breakdown: Market Rally Reaches Resistance, IBB Hits New Highs (10/24/14)

By Christian Tharp, CMT — Author

Market Analysis

S&P rally stretches higher
DOW is testing prior wedge support
Still looks like overall move is lower, market should stall here though

Biotech

IBB broke to new highs and still looks strong
ILMN breaks to new highs above 180
BIIB drops on earnings, but rebounds
AGIO breaks higher
Other biotechs discussed: ALNY, CLDX, INCY, KITE, VRTX

Posted to The Biotech Trader on Oct 24, 2014 — 10:10 AM

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