Stock Market Viewpoint

Stock Market Viewpoint
Reading the Tea Leaves...

Tuesday, December 12, 2017

Biotechnology Stalling At Double Top

The $BTK Biotech Index is not showing such a bullish outlook as the other index charts.  The biotechs are historically a good weather-vane as to where the market goes next.  



click on image to enlarge




Investors are going to be watching this closely to see what happens in January because it is currently trying to signal a risk-off indication but could change quickly as it is sitting right on the lower line of its 1.5 year red ascension channel.


Trade well my friends

Alan

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