A look at the general Healthcare ETF (XLV), which includes BioPharma, Devices/Equipment and Services shows it easing below the trend line. IHI is at lateral support and the SMA 50 and IBB is at a short-term trend line.
XLV is probably due for a test of the SMA 50 so that is no great shakes at the moment. I don’t like that IHI ticked a lower low before trying to find support but it is intact as of now; and we still have a target of 350 on IBB as long it holds the SMA 50 and the area of support from the March high.
