Name: SPDR S&P Biotech ETF

Ticker: XBI

Price: $101.49

Needs to Hold: $92 to $97

Price Objective 1: $110 to $115

Price Objective 2: N/A

I'm adding XBI as a Power Play here.

This sector looks like it's coming back in favor as traders anticipate a more dovish environment, which tends to favor biotech.

That said, I think the pattern needs to confirm the move -- so I'll consider this a half-size position. And I'll look to add on strength.

-Scott