With all the enthusiasm investors have displayed for health care stocks and ETFs, enthusiasm that has generally been rewarded, XLV’s chart still shows the fund is at or nearing a critical technical juncture and its near-term action could be telling.
“At this time the trend in health care is up, as its above support and long-term moving averages. Humbly I believe it often pays to keep a close eye on leadership. What XLV does with this pattern could be important to the broad market,” said Kimble.
Health Care Select Sector SPDR
Chart Courtesy: Kimble Charting Solutions