It's Bell BIVV Devoe Time for Biotech Stocks

It appears as though the small and mid market capitalization biotechnology issues housed in the XBI ETF are catching an impressive rotation early on this morning. 

For a while now, biotech bulls have been practically taunted with the numerous instances that the sector would appear well set-up to sustain rotation, only to sink back inside its range.

BIVV, for example, a recent spinoff from large cap BIIB, is breaking a sideway base higher with authority, seen below on there daily chart. And the many shorts in squeeze plays, like BLUE, could also be up against it should the sector hold this early move. 

But beyond a few properly set-up names, the XBI breaking the low-to-mid $70s barrier should proper the sector this summer for a more substantive rotation than anything we have seen of late. The issue as to whether biotech will resume its prior role as the market's visible leadership group may be academic at this point--All we are looking for is a tradable rally and then to take it from there.