Health Care SPDR "XLV" Looking Very BullishS+P SPDR XLV Health Care ETF was the strongest industry group on 7/14/23.
XLV technical price pattern is looking very bullish !
Shown here on the Institutional 4 Hour Chart, it shows clearly that health care stocks
are under "accumulation" by big money investors.
Interestingly, health care is considered a defensive play,
so institutional money managers may now be beginning to rotate "out"
of the high flying technology sector in a flight to quality.
The 4 Hour KST Indicator on XLV is now approaching a Buy Signal Confirmation.
XLV Close 7/14/23 131.70
THE_UNWIND
WOODS OF CONNECTICUT
XLV trade ideas
XLVThis is the second biggest sector and a big reason the Dow has been dumping.
Currently outside its daily Bollinger band and its weekly Money flow is oversold..
I'm expecting a major rally in Health this month
Let's see how XLV reacts after 126.50 gap close.. I'm not expecting a V shap recovery...
Maybe some around 126-128 to form a bullish pattern then we lift to resistance.
Wait for gap close
XLV Short IdeaAfter regarding the 200SMA Daily as Resistance,
forms a Diamond Reversal w/ Triple MACD + RSI Hidden Bearish Divergence
w/ 4 Hour MACD Bearish Divergence
Looking for a breakout and to see how markets open this week before a final decision, loosen or tighten targets as you will.
GIVE ME FEEDBACK
** NOT FINANCIAL ADVICE **
XLV (Healthcare sector) Correction almost underwayIf you were trading tech and didn't notice , there was huge selling in the Healthcare sector , with most stocks down 4-7%.
This downturn was the main reason the Dow was down 300 points.
XLV is trading up in supply area and also forming a pretty decent size rising wedge which indicates the sector is near a correction.
I also saw alot of "Aero defense" selling to. Health care, Utilities and Aero defense were sectors investors flocked to for safety when rate increases started being announced, so I'm wondering is this just smart money rotating
back into growth or a the beginning of a larger overall market sell off?.
Here's a list of Stocks in this sector that will be exposed
www.marketwatch.com
RectangleNeutral pattern until a trendline is broken.
Bearish Marubozu with both ends shaven on Friday. Spinning top right now that can change by close.
No recommendation,
This ETF is still above the .382 of the trend up (blue dashed line)
Top 10 Holdings
UnitedHealth Group Inc
10.20%
Johnson & Johnson
9.21%
Pfizer Inc
5.68%
Eli Lilly and Co
5.21%
AbbVie Inc
5.08%
Thermo Fisher Scientific Inc
4.70%
Merck & Co Inc
4.53%
Abbott Laboratories
3.82%
Danaher Corp
3.78%
Bristol-Myers Squibb Co
3.15%
The health care sector ($XLV) is looking bullish!Notes:
* It seems like the health care sector is making an inverse head and shoulders pattern.
* A break out from this pattern could mean that health care stocks lead the market and the sector may see new all-time-highs.
* Be on the lookout for trade ideas in this sector as it's showing tonnes of accumulation recently
* You may also look to buy the sector ETF if it makes a daily close above the white trend line with higher than average volume.