In the decline these past couple days one of the weakest sectors of the market remains the Biotechs. BBH (Biotech Holdr) at 134.28 are pushing four month lows and are in striking distance of 52 week lows which stand at 127.79. The biotechs were already under pressure at the time Biogen dropped their bombshell last week.
Semiconductors on the other hand as represented by the SMH (Semiconductor Holdr)has rallied back to multi-month highs and signigicant resistance in the $35 area. It's been a nice bounce off the sub $30 January lows, but to create a major breakout it will have to close above $35.
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