Laboring to Simply Go Green

Despite biotechnology issues sounds in the red again this morning, failing to react much to oversold conditions thus far, stocks are a whole are fighting to go green or least hug the flatline. On the one hand, the S&P 500 Index is still holding over the key 2120 support level again, but bulls are also having issues holding green. 

On the IBB ETF daily chart, below, note price at the lower Bollinger Band and oversold. If bulls are going to keep the S&P above 2120, then I suspect biotechs need to react to oversold conditions here for at least some type of bounce. 

Among leadership names, TSLA UA are threatening breakdowns while GOOGL is outperforming.