Busted Biotechs Week Ending 3/18/16: The Only Good News Could Be Holding The February Bottom

Busted Biotechs are Still Lagging the Market

There is very little do with biotech stocks especially now that other sectors are outperforming. Here is the sector performance over the past month and since the February 11 bottom:

IBB one month down 4% with 240-270 channel intact. Large cap focus.

XBI one month down 0.94% in middle of 47-54 channel. Smaller cap focus.

XLV one month up 1.38% more stable with 66-68 channel intact. Broader health care ETF.

During the same one month period the market has rallied 4 straight weeks off the February 11th bottom despite a lot of “gloomsayers” on the macro front. The S&P is up 6.87% over one month. Many sectors are green YTD like energy up 8.17% and basic materials up 10.35% YTD.

The Nasdaq Composite is up 6.47% over one month and the QQQ is up 5.65%. The QQQ has several large cap biotech stocks in it.

The DJI is a leader up 7.38% over one month as Large cap industrial and consumer stocks rallied.

And here is an update of Eight Top Large Cap Biotech companies which we have tracked since the 2016 J.P.Morgan Healthcare Conference. Data is from FinViz.com but only the latest prices have been updated. The financial metrics will be updated after Q1 earnings.