Biotech has been leading stocks out of the recent cycle low.
Biotech became a bit stretched above the 10 day MA on Friday. Biotech retraced Monday and Tuesday, tagging the 10 day MA on Tuesday. Biotech is currently in a daily uptrend. If Biotech forms a swing low above the upper daily cycle band then that will indicate a continuation of the daily uptrend and signal a cycle band buy signal. A break above 124.64 will form a swing low.