Such as in biotech sector, we don’t have much to do here.
Prior pivots for trading this week are 74.82 and 73.65 on XLV which are also the highs and lows on weekly chart of the last week. As long as XLV hold 73.65, stay bullish and watch for follow through to clear 74.82 level, trading strong sub-sectors/stocks. If bears build up power and broke 73.65, see if they hold and watch for follow through to 72, trading weak sub-sectors/stocks.
But in spite of this, we are little extended so we need to be patient trading health care stocks. In case of gapping up on monday above 74.82 or in another day after clearing this level, we may see a move down in that day as we move in overbought area.
Life Sciences Tools & Services :
- Strong Stocks : A, BRKR, TMO .
- Strong Stocks : AKAO, JNJ, LLY, MDCO, MRK .
- Weak Stocks : TEVA, AKRX.
Health Care Providers & Services :
- Strong Stocks : ANTM, DGX, LH.
Health Care Equipment & Supplies :
- Strong Stocks : ALGN, ABT, BDX, GMED, IDXX, SYK, VREX.