Prior pivots for trading this week are 76 and 75.22 on XLV. As long as XLV hold 75.22, stay bullish and watch for follow through to clear 76 level, trading strong sub-sectors/stocks. If bears build up power and broke 75.22, see if they hold and watch for follow through to 74.67, 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 76 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, TMO.
- Strong Stocks : JNJ, LLY, MYL, MRK .
- Weak Stocks : PRGO.
Health Care Providers & Services :
- Strong Stocks : AET, ANTM, CI, UNH, HCA, DVA.
Health Care Equipment & Supplies :
- Strong Stocks : ABT, IDXX, SYK.