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.
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