$Spdr S&P Biotech Etf(XBI)$ The monthly chart for XBI looks like a work of art. Filling that gap at $174.79 seemed impossible six months ago, but it feels more like an inevitability now. The tough part with biotech is the classic cycle: years of underperformance against the SPY, followed by parabolic gains that hit all at once. Market irrationality tends to overshoot in both directions. So I wouldn't be surprised if XBI breaks $180 at some point this year, especially with the persistently high short interest that could force some buying.
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