Why The Biotech Sector Is Due For A Pullback

The iShares Nasdaq Biotechnology ETF (IBB) made an all-time in 2015, briefly touching the $400 level one year ago this month. At that point, it formed a tweezer top, a two-day pattern consisting of a large range white candle immediately followed by a large range dark candle. This pattern reflects a sharp transition from bullishness to bearishness.

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