Health Care Select Sector SPDR (NYSE: XLV) Facing Tough Test Says Market Timer
Frank Kollar
January 13, 2010 (FinancialWire) (By Frank Kollar)
Shares of the Health Care Select Sector SPDR (NYSE: XLV)
have come a long way since their March 2009 bear market
lows at $21.63 a share. But XLV will soon run into a strong
headwind.
Back on August 15, 2008, Health Care Select ended a strong
bear market rally at $33.61 a share. This will mark resistance
that must be surpassed by Health Care Select and it is
only 5.5% higher than Tuesday’s January 12 close
at $31.73.
Just above this is the all time high for Health Care Select
at about $36.80 a share.
Health Care Select has two huge tests ahead and the second
requires a breakout to new highs.
Traders should be watching Health Care Select for any
bearish reversal patterns as it approaches these resistance
levels. Health Care Select could blast through and keep
on going, but it could also reverse and start a long overdue
correction.
The Fibtimer.com (http://www.fibtimer.com)
ETF Timing Strategy holds a position in the 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.
Go to previous Press
Releases & Trading Notes.
Note: These Press Releases are short term in nature. They may or may not reflect the same position as current subscriber reports which typically have longer time frames.
© Copyright 1996-2010, Market Timing Strategies, Inc., All Rights Reserved.
FibTimer reports may not be redistributed without permission. These Trading Notes however may be distributed without permission.
Disclaimer: The financial markets are risky. Investing is risky. Past performance
does not guarantee future performance. The foregoing has been prepared solely
for informational purposes and is not a solicitation, or an offer to buy or sell
any security. Opinions are based on historical research and data believed reliable,
but there is no guarantee that future results will be profitable. |
