Biotech Acting Stronger

10/08/2008 2:17 pm EST

Focus: ETFS

Thomas Aspray

, Professional Trader & Analyst

chart

Despite the carnage in the equity markets the Biotech Holders ETF (BBH) is still above the January lows while the S&P 500 is 19% below these lows. The RS chart shows the breakout above long term resistance as noted in the July 17th Sector Report. The RS made new highs last week and still looks strong.