Here is one of the inter-market views that I find interesting. The Biotech iShares is constructive vs. the QQQ on a daily chart as the ratio is above all key moving averages, short and long-term. The intermediate trend (as denoted by the SMA 50) turned up in June.
On a bigger picture monthly chart, IBB/QQQ is trying to get above the EMA 10. If the time comes that you see it above the orange dotted EMA 30, a strong signal of a new up phase would be indicated.
Subscribe to NFTRH Premium for your 40-55 page weekly report, interim updates and NFTRH+ chart and trade ideas or the free eLetter for an introduction to our work. Or simply keep up to date with plenty of public content at NFTRH.com and Biiwii.com. Also, you can follow via Twitter @BiiwiiNFTRH, StockTwits, RSS or sign up to receive posts directly by email (right sidebar).