Biotechs Still Stronger

01/07/2009 9:42 am EST

Focus: STOCKS

Thomas Aspray

, Professional Trader & Analyst

chart

With a major healthcare conference next week in San Francisco, the biotech stocks are getting lots of attention. The RS chart shows the upside breakout last June 27th, and since then, the S&P Biotech Index is up 2.9% versus a 27% drop in the S&P 500. The chart shows strong resistance in the 1050-1100 area.

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