Only four equities showed up on our bearish scanner, and two of the equities were in the field of Biotechnology. Amgen Inc. and Gilead Sciences Inc. have both exhibited price action pointing towards waning interest.

They produce the following charts:

Equivolume: AMGN

Equivolume: AMGN

Equivolume: GILD

Equivolume: GILD

Support Resistance: AMGN

Support Resistance: AMGN

Support Resistance: GILD

Support Resistance: GILD

GILD is a more favorable play for us, as it appears to have more solid support a little bit under the $44 level.  If a breach below these levels can be held, then look for a fall down to close to the $42 level.  We are going to limit loses with a stop to fill the short if the stock moves above recent highs.

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