The Pharmaceutical ETF strikes an interesting pattern
Man stares at the daily chart of PPH and gets geeked out on the pattern that has formed within a gentle uptrend. As long as it holds the SMA 50 man thinks it is prospective. Man also likes the positive RSI and MACD. Finally, man is also aware of the market’s various and ongoing rotations which, very lately, appear to be benefiting the relative value of big Pharma.
Much like we caught the move in Aerospace & Defense per this now public NFTRH+ highlight of LHX (I also added LMT & NOC at the time) here is another sector that was relatively kicked to the curb in the go-go, momo speculative frenzy that has been the post-crash, Fed-fueled stock rally. It seems like so long ago that the Cloud/SaaS/Remote Tools stocks were ‘it’. The market has been going through fairly logical rotations for most of 2021.
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