The Closing Print live trading and financial blog during market hours.

Biotech stocks from the (IBB) index are rallying this week following a bullish run that started more than 4 weeks ago. Additional ETFs, XBI and LABU show similar results.

iShares Biotechnology ETF Holdings

Amgen (AMGN) reported earnings last night, currently (-1.05%) lower in early trading, while Moderna (MRNA), Illumina (ILMN), Biontech (BNTX) and Vertex Pharmaceuticals (VRTX) offset by rising more than (6.00%) collectively this morning.

Watch for strength through the remainder of the week.

Click to enlarge charts.

IBB-Daily-Chart

We’re looking for this group to follow through, in addition to XBI and LABU.

Click to enlarge charts.

LABU-Daily-Chart

LABU

XBI-Daily-Chart

XBI

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Happy Trading, 

Vinny

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