The PPH(VanEck Vectors Pharmaceuticals) is heading for its lowest weekly close since late January.  The index has pierced a key trendline as overhead pressure intensifies.  We expect more downside in the near term.

Top five PPH holdings:

Abbvie Inc(ABBV/5.3%)

Novo Nordisk(NVO/5.2%)

Glaxosmithcline(GSK/5.1%)

Pfizer(PFE/5%)

Sanofi(SNY/5%)