How High Can Health Care SPDRs (AMEX: XLV) Go? Asks Market Timer Frank Kollar
April 17, 2007
Shares of Health Care Select Sector SPDR (AMEX: XLV) have been in rally mode since early April, gaining almost 7% in only two weeks. How far can they go?
Health Care SPDRs’ holdings include Johnson & Johnson (NYSE: JNJ), Pfizer Inc (NYSE: PFE) and Amgen Inc (NASDAQ: AMGN). Shares are closing in on strong resistance at the $36.12 level. Should this resistance be surpassed, Health Care SPDRs could achieve $36.89 in coming days, but the speed of this rally will soon slow down. Expect consolidation and profit taking to slow the rally in shares of Health Care SPDRs, likely at one of these resistance levels, in coming days .
The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy holds a position in Health Care SPDRs .
Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.
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