We Can Look at the Positives and the Negatives

On this National Pearl Harbor Remembrance Day, we can look back at the horror suffered in Hawaii, awakening the sleeping giant known as America and bringing us into World War II in an active role. But we can also look at the new heroes which later emerged, such as John Basilone (pictured above receiving the Medal of Honor) who nearly single-handedly defeated the Japanese in The Guadalcanal Campaign in arguably the best battlefield performance in U.S. military history. 

On a much smaller and less significant scale, but one which is of course relevant to this website, we can focus today on the hit biotech stocks are taking due to some comments President-elect Trump made in Time Magazine. But ags and plenty of materials look to be benefitting from rotation, keeping the biotech selling from harming the market at-large, for now. 

We know the IBB and XBI charts have been murky, at best, for some time. For Members, we have only noted a few standouts here and there. But generally the sector has been hands-off, and continues to be. 

The true issue is whether the Nasdaq as a whole can hang in here, keeping any dips shallow while materials, namely ags today, figure to be the beneficiaries of capital flows. 

Beyond that, I see the precious metals and miners are finally trying to stage a relief rally. As a simple rule of thumb, let's see if GDX can hold over its 20-day moving average for a start.