The biotechnology sector has seen considerable selling over the past two weeks, setting up today's recovery. Keith Bliss of Cuttone & Co. expects the market will be range bound until there is more evidence to determine which direction to take. Consumer confidence isn't matching up to weak retail sales and new home home sales reports aren't matching up to recent reports from home builders. He expects the first quarter earnings will give the market the direction it craves.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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