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Strategies & Market Trends : General market lab and commentary

SPY 683.38

+0.1%

Nov 12 4:00 PM EST

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From: Robohogs	4/19/2016 6:47:52 AM
	of 668

I really do hope this chart pastes in correctly. I apologize for the ugliness of this chart - forgot everything I ever knew about formatting charts. This chart compares three of the four weak sectors of the market from their bottoms to today - energy (XLE), transports (IYT) and biotechs (IBB). Energy and Transports bottomed on January 20 with bios bottoming approximately 3 weeks later on February 11. I used IBB as these ETFs tend to be larger cap overall. As you can see from the data above, since week 4 or so, biotechs have underperformed the other weak sisters with most of this resulting from a second attempt at a new bottom once recovery had started. BUT bios are above points further right for each of the other indices so may be able to "catch up" as its graph moves right. A few observations: Energy is at new highs for recovery driven by oil Transports are lagging and still need a few percent for new recovery highs Bios are also below a prior recovery peak Bios may have 4-5% of room upward if they follow other sectors - beta might suggest even more. Jon

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