Biotech, Health Care Appear Way Oversold (ETFs: BBH, XBI, PBE, IYH, IXJ, VHT, XLV)

The Biotech and Health Care Provider groups have moved well below the bottom of their normal trading ranges. Biotech seems to be sitting at the bottom end of its current downtrend while the Health Care Providers, reacting negatively to earnings reports, had a free fall last week with a slight bounce in recent days:

ETFs in this sector:

HOLDRS Biotech (BBH)
SPDR Biotech (XBI)
PowerShares Dynamic Biotech & Genome Portfolio (PBE)
iShares Dow Jones U.S. Healthcare Sector Index Fund (IYH)
iShares S&P Global Healthcare Sector Index Fund (IXJ)
Vanguard Health Care VIPERs (VHT)
SPDR Health Care (XLV)