Summary
Biotech can serve as a proxy for the market risk appetite.
The Biotech group recently broke out.
The sector offers investors the potential for growth coupled with multiple expansion.
It wasn’t even a month ago that we wrote that the Biotech sector was on the verge of breaking out and was set up to follow the Tech sector higher. It was only June 5, in case you forgot. Now we are going to tell you why the sector is likely to continue to move higher and how this will help the S&P 500 (SPY) get to our 2,550 target.
Since June 5, the sector has been on a tear and has passed Tech’s 2017 year to date performance.
….continue for more charts, analysis and individual stocks HERE
…also from Seeking Alpha”
