…it’s a market in trouble. This is a disgusting daily chart of the Healthcare sector ETF, XLV. Especially when you consider that the ratio of said defensive sector is firmly in a rising trend vs. the broad market as we’ve been tracking for months now in NFTRH. By the way, the rise is not (yet) impulsive. Historically, the impulsivity of this ratio has indicated whether … Continue reading When a relatively ‘defensive’ sector is doing this…
Back on April 21st NFTRH 548 noted that the medical device babies were getting thrown out with the politically hyped bathwater that was submerging the Healthcare sector. I finally took the profit on that trade as I am in cash-raise mode. Maybe I used the state of RSI & MACD as an excuse to take the profit. Maybe they are not rolling over at all. … Continue reading Medical Devices: Negative Political Hype Was Opportunity
On May 22 this post reviewed… What Healthcare Needs to Do to Go Bullish In that post we reviewed the XLV/SPY ratio, noting the hard ‘V’ bounce, which has since continued upward and is most recently consolidating (as broad market relief overtakes H/C’s relative defensive characteristics). We also used the nominal chart of XLV to show the ETF in the nose of a small triangle … Continue reading Healthcare Sector, Updated
It’s been a hard road for this more defensive sector since the casino bottomed out at the Christmas Eve Massacre and its patrons gradually regained their backbones in order to accept risk. The final indignity was the ‘Socialization of Medicare’ hysteria that swept the market and tanked the Healthcare sector in April (where I took still-held long positions in Medical Devices via IHI). Since then … Continue reading What Healthcare Needs to Do to Go Bullish
We have been noting that Tech, for example, is 100% intact to its daily, weekly and monthly up trends. As I hold a big chunk of QQQ off of the media’s ‘RIP Big Tech’ style headlines and that intact trend status, I am also short less prospective areas. While I am long some Medical Device companies and a couple Biotechs, we have noted in NFTRH … Continue reading Healthcare Not Yet Healthy
Semi Sector Let’s begin at the beginning, with our Semi Equipment indicators. Again, for the many folks who were not with us in January of 2013, we recall that month as the first inkling that the Semi Equipment (companies like Applied Materials, Lam Research, KLA Tencor, MKS, etc.) sector was experiencing a surge in bookings per the then-available book-to-bill ratio available from SEMI. These days … Continue reading NFTRH; US Economic Cycle Signals per Two Key Sectors
The Healthcare sector, under pains of congressional follies in trying to hammer out anything in revision to Obamacare, is not responding well. Since our last look, XLV has maintained its state below the trend line as it looks to test the SMA 50, IHI has broken through the SMA 50, lateral support and the trend channel and IBB continues to drop toward the SMA 50 … Continue reading Healthcare Breaking Down; Esp. Medical Devices
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 … Continue reading Healthcare Charts Updated
Back in April of this year we did an NFTRH+ on BioPharma ABBV and its amazingly similar setup to 2016’s NFTRH+ pick, LRCX. The original target was noted as 84, which ABBV is still on track for. But in weekly NFTRH reports that target was subsequently adjusted to a less conservative 88 and a new interim target of 75 was added several weeks ago. Well, … Continue reading Ding… ABBV to Target #1
There was the high, tight one on Biotech iShares, IBB and then others noted on the Medical Device iShares, IHI and the general sector SPDR, XLV. Well, there ya go. Here’s the updated chart. The oft-noted interest rate dynamic is obviously in play here to some degree. Subscribe to NFTRH Premium for your 40-55 page weekly report, interim updates and NFTRH+ chart and trade ideas … Continue reading Well How About Those Healthcare Flags?
We noted the high, tight one on IBB yesterday and today it and its bros in the Healthcare sector appear to want to break these bull flags. In line with our rotation theme, I added both IBB and XLV yesterday and have held a couple of device companies all along. XLV was a re-buy after taking profit a couple weeks ago. Here’s a daily view… … Continue reading Healthcare Flags Trying to Break Out
Less than 3 bucks from target #1 (75), I am taking the profit here. ABBV is very overbought as it led the momentum that recently whipped up in the sector and I am not giving back the gains. Of course, I did the same thing with LRCX last year, the Semi stock that ABBV was compared to in this now public NFTRH+ post from April. … Continue reading Taking Profit on NFTRH+ Trade, ABBV
In line with our bullish forward view on USD, behold the very bearish state of the Commercial Hedger positions in the Euro (courtesy of Sentimentrader). Recent historical data speaks for itself. It appears a decline in the Euro is imminent (which, in market terms means ‘relax, it could be a while yet’ ;-) ). The next question is, when Uncle Buck rides will he … Continue reading Hedgers Net Short the Euro, US Market Rotates; 2 Horsemen Set to Ride?
The Healthcare SPDR, XLV is going up, joining the early moving IHI (like Semi in early 2016, I’ve felt like a lone voice extolling Medical Devices since the middle of last year) and the late moving IBB. Here’s a weekly multi-panel view of the 3 Amigos. As noted repeatedly in NFTRH, Healthcare is an area of out performance during economic soft patches. This is not … Continue reading It’s Not Just Biotech or Medical Devices, it’s the Whole Sector
