Additionally, IBB’s relative strength against the benchmark S&P 500 Index is getting uglier. Relative strength refers to a type of momentum investing technique that compares the performance of a sector or security to the overall market. The strategy assumes a security with increasing momentum will continue its upward pace, but IBB has been caught in a downward sell-off conditions.

iShares Nasdaq Biotechnology ETF

For more information on the biotech sector, visit our biotechnology category.

Max Chen contributed to this article.