Rotation in the Medical Field

For at least a short-term rotation, it looks as though some money is coming out of large cap biotechnology issues like GILD, first daily chart, below, and moving over to a major pharmaceutical firm like PFE, seen on the second daily chart. 

GILD and other large cap biotechs have been on a tear for years now. But while fellow leader BIIB has been unstoppable, GILD has been lagging its peers for a while now, essentially flat since last August. 

Meanwhile, PFE is trying to partake in the medical field fun, as it has only steady and modestly rallied in recent quarters. PFE looks to be attempting a clean daily chart base breakout for a reasonable long idea, while GILD is still a short setup if it finally cracks that 200-day moving average. 

Of course, massive gaps lower like we are seeing in MEIP today highlights one of the many risks to this sector, despite the rally in recent years.