The biotechs are getting hit this week to the tune of nearly 5% and there are still two sessions left. Sure volatility accompanies these last few days of the year, but PMs are probably looking to wipe their books clean of having had any exposure to this space in 2021, and you also have the tax selling factor. Examining pure technical action, however, it shows the XBI’s rejection on the chart at the break below the long bearish descending triangle at the round 120 number from the week ending 11/26 was retested and held firm last week. Weakness is nothing new here with the ETF down 36% from the most recent 52-week highs, and on a more recent lookback period, it is lower by 2 and 10% over the last one and three months (on the same time frame the XLV is higher by 7 and 10%). The XLV is a bit extended from its double bottom breakout pivot of 134.22 taken out on 12/10, but as investors continue to search for yield, which they will most likely for a long time in the future, they will clamor to these names. In the ETF I still think PFE looks great as it comes back toward a bull flag breakout and LLY which took out a bullish ascending triangle near the 270 area. Do not forget about ABBV paying a dividend yield better than 4%.