Below is the updated WEEKLY chart of the XBI that I put one month ago and the double bottom does seem to be holding with the March 2020 lows. There are both good and bad interpretations there depending on your bias. The bad news first is that I would like to see a spirited move off this low, not the pause that seems like it’s tiring a bit. But the bullish take is the last 3 weeks have all CLOSED very taut, within just .88 of each other, and from that type of action can see very powerful moves. The last 4 weeks have also CLOSED very near the upper half of the WEEKLY range which shows investors growing, but the potential nascent appetite for names within. There has been some positive news with M&A activity in TPTX and BHVN, and smaller names too in NTUS CMPI and SRRA this year. The report from LLY, and also rectal cancer drug news is exciting, but remember at the end of the day for investors its PRICE action that matters. Let’s see if this week can CLOSE near the upper end of the range again Friday.