4 Weak Biotech Stocks Breaking Down Now
Global stock markets are mostly mixed this morning following a pullback on Wall Street on Tuesday.
The iShares 20+ Year Treasury Bond (Nasdaq: TLT) is flat, and there hasn’t been much of a correlation between the bond market and the Nasdaq over the past few days. So the bond market is likely to enter a choppy trading period.
Here’s what that means for us…
In today’s video, I have more on why the stock market is losing its natural rhythm… the significance of the put/call ratio on market action… the impact of divergence on the S&P 500… the biggest Federal Reserve data to watch this week… and the four weakest biotech stocks breaking down now.
The first breakdown stock I’m giving away today is actually an ETF. It’s hovering in what I like to call the twilight zone, between the 50- and 200-day moving averages. However, it could test its 200-day MA since the S&P is expected to come down a bit.