The biotech sector, represented by the ETF $XBI, is currently experiencing a pivotal moment as it attempts to break and hold above the 102 mark. Despite recent struggles and disappointments in the sector, there is potential for a breakout. The ETF is testing its 20-day moving average near 100, with the 50-day moving average around 99 and the year-to-date volume-weighted average price at approximately 93. The broader market context shows the S&P 500 hitting all-time highs, while semiconductors, led by $NVDA, exhibit some weakness ahead of Micron's earnings report.