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Biotechs Enter Bear Market, Break Key Technical Support - Yellen Capital Waves It In
Somewhere Janet Yellen is smiling a "told you so" grin as she watches the "stretched valuations" of the Biotech index get slashed. Biotechs are now down 22% from the highs - officially a bear market - and just broke the crucial 200-day moving average for the first time in 10 months...
Still a long way to go for Yellen to be in the money... But what goes up must come down...
Nope - no bubble here.
The machines don't care though...
Charts: Bloomberg
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ZeroHedge makes doom fun!!!
"If Janet had printed more this would never have happened."
https://www.youtube.com/watch?v=H3NxwSpLeEQ
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