17 Years of Biotech Outperforming Pharma Coming to an End?

17 Years of Biotech Outperforming Pharma Coming to an End?

Below I plot a simple chart – the ratio of the PPH pharma ETF vs. the IBB biotech ETF. After multiple failed break-outs over the past nearly two decades, you’ll see the ratio breaking above 17-yr downtrend resistance line (1)…