New 2009 High for Health Care Select Sector SPDR (NYSE: XLV) Says Market Timer Frank Kollar

August 20, 2009 (FinancialWire) (By Frank Kollar)

Shares of Health Care Select Sector SPDR (NYSE: XLV) closed at a new 2009 high on Wednesday, August 19, even while the rest of the stock market is just beginning to rebound from two weeks of losses.

Health Care Select had minimal losses during the last two weeks and now has not only recovered faster than most sectors, but is at new 2009 and new rally highs.

Health Care Select has also closed above its 50% retracement level, at $27.66) for the July 2008 through March 2009 leg down of the bear market.

New highs and a close above resistance points to continued strength in coming weeks. The next resistance level, and target for this advance, is at $29.07.

The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy holds a position in Health Care Select.

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.

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.

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