Stocks Analysis by Michele Schneider covering: US Small Cap 2000, iShares Biotechnology ETF, iShares Russell 2000 ETF, SPDR® S&P Regional Banking ETF. Read Michele Schneider's latest article on Investing.com
It should not come as a surprise to see the Family diverge even further than where it has been over the last 2 months.Plus, if IWM can get back over 202, stories of how undervalued small caps are, we could begin to think perhaps they are undervalued enough.While yet to clear the 200-week moving average, IBB remains steadfast while it continues to hold the 135 area.
If IBB can pop over 138 and stay there, I imagine we could see more upside. I have a few biotech drugs on the radar.If the Family hangs tough or rallies from here, we see no topping pattern in SMH yet.I don’t love that it closed the week under 66,000.But the 50-WMA is far from current levels.However, under 60k, 45,000 would be a reasonable next target.
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