Biotech stocks have been surging since their mid-March plunge (back below the 50DMA), but it appears that is at an end as XBI - the SPDR Biotech ETF - is now down almost 7% from Friday's highs on heavy volume (and back below the 50DMA once again).
Which has smashed XBI back below its 50DMA on very heavy volume..
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This is a major problem as if China QE can't keep the weathe creation dream alive, what will?
