Drugs: Got Anything Good in There or What?

Within the biotechnology sector, the action is becoming even more selective. While the likes of TSRO and AGIO, seen first below on the weekly timeframe, are suffering heavy selling, my BPMC long is being permitted to attempt the highlight ascending triangle daily chart breakout, second below. 

Regarding AGIO, that weekly chart shows a potential major lower swing higher after a multi-year uptrend, raising the risk of a deeper pullback this summer. 

Also note the major biotechs like AMGN BIIB CELG GILD REGN are coming in today. Whether this is a function of a choppy, sideways summer market or the prelude to a correction remains to be seen. For now, the sector is best trade on a stock-by-stock basis.