A Moment of Calm Before the Netflix Show Begins

XLV, sector ETF for healthcare stocks, was down more than 2% today. Biotechs in the IBB and XBI were red, too, though not pummeled quite as much. Dating back to late-last week, the weakness in these groups has been an issue we have examine for Members, largely keeping us out of those names for now. 

However, keep in mind relative strength names are always enticing and usually are instructive to note during times like these. Radius Health, related to cancer treatments, is a good example of said outperformance. 

On the RDUS daily chart, below, the long-time laggard since 2015 is actually showing signs of a more concrete bottom in place. Note the basing action, with volume spurts, back above all moving averages. 

With NFLX earnings, then TEAM, plus a bunch of macro data into the end of this holiday week coming up, it may be easy to lose sight of improvement and performers like RDUS in what has been a lousy sector the last few days.