Health Care Stocks About to Peak? Watching This Hot Sector Closely!
Health Care ETF (XLV) has done really well the past few years, as its outpaced the S&P 500 by a large margin. The only Sector (lower left corner) that is ahead of Health Care over the past five years is Consumer Discretionary (XLY).
The strong rally in XLV has taken it up to the top of its rising channel and a Fibonacci Extension level based upon the 2007 highs and the 2009 lows.
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.
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