Shares of the biotech appear to be in the early stage of making a new base pattern.
The Russell 2000 had a strong week last week, but whether smaller names can outperform their large-cap brethren going forward remains to be seen.
The stock price was already moving up ahead of this supply shock.
The drone attacks on Saudi oil operations even could influence the Fed's thinking on inflation and rates.
Here's two buy-setups: Costco and Mastercard.
Algorithmic traders, along with the Chinese and the Saudis, will feel the outcome of the oil attacks.
The news on momentum stocks, bonds and oil has not roiled the market as many would expect.
Qurate Retail Group's chairman, CEO and media magnate John Malone each made significant buys totaling more than 1.9 million shares in the company -- that's a good sign.
The problem with the oil market is not one of supply, it is one of demand.
But the short-term overbought reading should lead to a market pullback, and that should be followed by another rally attempt.