The Fred Report - Mid Week Update January 11, 2017

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Both XBI and IBB have rallied off the recent low, and are now overbought. They could still test the top end of ranges (IBB 300, XBI 70) but even if they are going to go through they are likely to pause and consolidate.  SLX has support at 33 – 38 and resistance around 45. We would continue to buy it. 



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