The general Healthcare ETF (BioPharma, Medical Device/Equipment and services of all kinds) is in trouble. I am not short the ETF, but I am short one of its largest components, UNH (which is my only short position going the wrong way today; go figure…).
Anyway, back on XLV it is threatening to break down from a bear flag that has been perched below the SMA 200, as with several other sectors (as the S&P threatens to lose its SMA 200 today). It’s only in-day and you know how this volatility extravaganza has gone over the last few weeks. They could be massively shaking out the bulls. But as of this moment, XLV is not look good after failing to reclaim the 200.
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