And while the playbook is starting to work, we’re not quite there yet.
We’ve seen some rotation into these names — especially Builders, which have caught a bid, and Banks, which are beginning to play catch-up.
Biotech still needs work.
However, that might be about to change.
Take a look at the Equal Weight Biotech ETF relative to the Equal Weight S&P 500.
This ratio is sitting right on top of major long-term support — a logical level for a long-term trend reversal.
We’re not calling a bottom just yet. These are monster downtrends, and bottoms are a process, not an event.
But if Biotech is going to turn, this is exactly where it should start.
It’s early. It’s messy. But it’s worth watching.
Biotech might be the next group to catch a bid.
We're sending a deep dive on Biotech to ASC Premium members this week — including trade ideas, key levels, and the top setups we're watching across the space.
