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Bio Tech has had its positive influence to the broad markets over the past couple of years. It seemed to have had a negative influence on the markets from Feb 27th to April the 15th, where a bullish wick took place in the sector and a small bounce has taken place over the past couple of weeks.
Joe Friday…It is jobs report Friday, which is important….. humbly I feel how Bio Tech handles this “kiss of the underside of resistance” could be very important at this time.
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Often times investors look at the direction of interest rates and copper, to determine growth in the economy or lack of. The above chart reflects that so far in 2014, Copper and the yield on the 10-year note are both down over 10%.
If interest rates and copper traders are accurate in pricing, they are expressing concerns about global growth.
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