A Notable Spot Overhead

One aspect about this morning's gap higher in the market which I am watching is Gilead's move up to that $104 level, highlighted below on a zoomed-out 30-minute chart. As the saying goes, "price has memory." And an initial fade off those once-support-then-resistance level would be not all that unsurprising. 

Going back to last August 2014, the major biotech leader has essentially been dead money. I suspect a move over $110 would galvanize bulls for a potential breakout. So I am watching $104 even more closely now. 

Note that the $230 level on TSLA looks be acting the same manner.