Biotech: textbook bullish continuation pattern breakout

Biotech was one of the first sectors in the market to show relative strength and catch some bids throughout the June bottoming process.

IBB rallied 20% off the lows and then proceeded to consolidate sideways for 3 weeks. This Wednesday, IBB broke out of that consolidation with a gap up on heavy volume and is now finding more follow-through.

Keep an eye on the old Feb/Apr highs around 135 which seems like the next target in this uptrend.