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XLV trade ideas

Rectangle/Cyphers Versus Sharks/Inverted HammerXLV appears to be bouncing around in a rectangle for quite some time. It is a fairly wide rectangle which is neutral until a trendline is broken. XLV appears to have formed a W pattern inside that rectangle that topped out at the 1.113 which caused a throwback and price landed back inside the rectangle. If you take a look at the bottom valleys of the W (almost like a double bottom), valley 2 is slightly lower than valley 1. So, if you flipped this over, it would be peak 1 and peak 2, and peak 2 would be higher than peak 1, but only if you flipped it over. You have to use your imagination here (o: This narrows harmonic patterns down to a Bearish Shark of a Bearish Cypher. The cypher should have reversed at the .786, so in my pea brain, this is a Bearish Shark which can land at the .886 or the 1.113 fib levels. This landed at the 1.113. Since this is a W and not an M, that is the first clue it May (and I stress May) be a bearish pattern in the end. But you can go long on that last W leg if you recognize the pattern. Just be sure to get out at the top of that last leg. Spinning top right this second as today's candle. The candle may change by close. This is a candle of indecision like a Doji which has practically no body to speak of. Very long wicked Inverted Hammer 4 trading days ago. An inverted hammer performs at it's best at a level of support and at a bottom, but when this same candle is at the top, it is a shooting star which is bearish and can mean a reversal is looming. The wick must be at least 2 times the length of the body and usually the candle body is small. The color is not so important. At the bottom, or at support, it can show the bears that the bulls can take price higher, even though price does not close at the high. This can make a bear a bit nervous to see how high price traded that session, so they may cover their short if they have enough profit. The high and low are the same on red and green candles. The top of the upper wick is the high and the bottom of the lower shadow is the low. The open and the close do differ however as a red candle has a close at the bottom and a green candle has a close at the top. Engulfing candles can also be a reversal candle pattern even if just short term. Opposite colors best and the second candle totally swallows the 1st candle in this pattern. No recommendation. Be safe/Laura
AMEX:XLV
by lauralea
XLV - OBV divergence says it's time to go shortMr. Market is happy today! So what am I doing? Searching for short opportunities, of course. XLV fits the bill. As you can see, there's a rather significant On Balance Volume divergence with price. This is often a leading indicator signifying a potential price reversal. I'm going to wait just a bit for it to get below the red support line but then jump right in. I still think we have a leg left to go down before the ultimate bottom.
AMEX:XLVShort
by digital_precision
1
XLV / Healthcare: A Path into Support before Going LongWhile the equity indices have been setting up bearishly especially on the longer-term charts, one bright spot is Healthcare and the SPDR ETF tracking this sector AMEX:XLV . Given the weakness in the indices, bullish positioning should be avoided unless (1) the position is short-term, tactical and position sized, or (2) the position is within a defensive sector that is outperforming in terms of relative strength and has strong trend structure. Along with Utilities and Energy, Healthcare has been an outperformer since the beginning of this year. Over the past year, its performance is slightly above the mid-range of all sectors (see linked idea US Sector Performance using Equal-Weighted Sector ETFs). But YTD, its performance has been stronger, and it is maintaining a good uptrend structure. Since its peak on April 8, 2022, XLV appears to be forming an A-B-C Elliott Wave correction. Using Fibonacci projections of the "A" wave, and projecting the length of that wave from the April 14 high (the end of the larger B wave), a target of 134.68 would mean larger wave A and larger wave C are roughly equal, a common proportionality in A-B-C corrective patterns. RSI on the 78m, 130m, and 4 hour charts all point to further downside before any bounce may occur. The RSI line is trending well below its 13 EMA . Wave C should unfold in 5 waves according to EW principles (because it moves in the direction of the corrective pattern of one larger degree, i.e., the larger ABC corrective pattern). Wave 1 of C should also contain 5 sub-waves. Without cluttering the chart with the smaller sub-waves of Wave C, my own count suggests wave 1 is complete and wave 2 is underway or complete. That leaves about 3 waves more downward in the coming days before a buying opportunity might present itself.
AMEX:XLV
by SquishTrade
Sector performance since the bottom on the 15th of MarchIn my last published Idea I showed the sector performance YTD till about the 14th. Now the market has turned and the best performers are the worst performers to the 14th from January 1. So now you know where the most action is and the least. It might be smart to buy some QQQ as it is heavily weighted with the best 3 performing sectors- XLY,XLK,XLC. The upward bull run could change depending on what happens over the next month especially with the Ukraine war happening and inflation and the FOMC meetings. Oil prices are forecast to slowly rise this year so the Fed is going to be challenged.
AMEX:XLV
by AK-at-eToro
Head and ShouldersThis pattern is not valid until neckline is broken. The neckline is a strong source of support until it is broken. Then the neckline becomes resistance. After the neckline is broken and one wanted to go short, one may place their stop above the neckline. I am being sure this neckline breaks before thinking short entry as healthcare seems to be a good place to be. But I am actually beginning to wonder if there is a good place to be right now )o: No recommendation. Heiken-ashi candles and definitely a bad top by eyeballing it )o: Neutral until neckline is broken.
AMEX:XLV
by lauralea
healthcare is outperforming the broader market (XLV)when an overweight sector corrects with the market volatility is higher in general, but thats why it bounces so much more quickly and outperforms other sectors in the same trend. sector rotation will have a play in healthcare if we find a higher low, and bulls have given themselves room to complete that reversal. we should make a higher low somewhere, even if its closer to the bottom than i anticipate, and continue to rally faster than other parts of the market as stocks benefitting from inflow seeking value accumulates.
AMEX:XLVLong
by cerealtrades
Healthcare is still in a bull market - be longAt the start of 2022, healthcare stocks have gotten killed, especially anything that was a winner in the past 1-2 years. A lot of people are getting rather bearish, but they shouldn't be. The fundamentals favor healthcare still in many ways, and momentum is still rather strong. We already got the breakout in healthcare stocks, and we just got the retest, which was enough to scare a lot of people out. Now is a great entry for a long position, coming out of a short consolidation into a potential new bull phase.
AMEX:XLVLong
by GTStockmaster
Bullish Candle in Health Care as Key Conference BeginsThe SPDR Health Care ETF Health care has pulled back after a sharp rally in December. Some interesting patterns are also appearing on the chart. First, XLV stands out because it was the first major sector fund to go positive yesterday. Its 1 percent gain also made it the top performer in the session. Second, the bounce followed a drop to a one-month low and took out Friday’s high. That kind of large bullish outside candle is a potential reversal pattern. It could mark the end of a six-day skid. Next, it’s noteworthy that buyers stepped in to defend the 50-day simple moving average (SMA). In addition, Monday’s low was near a previous high on November 26. A downward-sloping trendline along the highs of September and November could also be turning from old resistance to new support. Finally, you have an active calendar. The 40th Annual J.P. Morgan HealthCare Conference takes place this week, followed by quarterly results from top holdings UnitedHealth (1/19) and Johnson & Johnson (1/25). TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information TradingView is not affiliated with TradeStation Securities Inc. or its affiliates. TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means. This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates. Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
AMEX:XLV
by TradeStation