Good Biotech; Bad Biotech

Into the final hour of trading, Gilead continues to lead the major, large market capitalization biotechnology issues. For a while now GILD and REGN have been the large cap biotech leaders, while AMGN BIIB CELG were churning. After REGN's gap down today, GILD continues to push on higher, oblivious to any weakness around it. 

That said, GILD is now back to the Halloween highs, seen on the daily chart, below. The stock is also punching up above its upper Bollinger Band and is more likely than not to see sideways or down action in the next few sessions. As long as $115 holds on pullbacks, though, the leader is still constructive for bulls. 

On the other side of the coin, the riskier and controversial MNKD stock is coming in hard, likely needing to hold $6 in order for bulls to sustain recent progress.