XLV (Healthcare sector) Correction almost underway
If you were trading tech and didn't notice , there was huge selling in the Healthcare sector , with most stocks down 4-7%.
This downturn was the main reason the Dow was down 300 points.
XLV is trading up in supply area and also forming a pretty decent size rising wedge which indicates the sector is near a correction.
I also saw alot of "Aero defense" selling to. Health care, Utilities and Aero defense were sectors investors flocked to for safety when rate increases started being announced, so I'm wondering is this just smart money rotating
back into growth or a the beginning of a larger overall market sell off?.
Here's a list of Stocks in this sector that will be exposed
www.marketwatch.com/investing/fund/xlv
This downturn was the main reason the Dow was down 300 points.
XLV is trading up in supply area and also forming a pretty decent size rising wedge which indicates the sector is near a correction.
I also saw alot of "Aero defense" selling to. Health care, Utilities and Aero defense were sectors investors flocked to for safety when rate increases started being announced, so I'm wondering is this just smart money rotating
back into growth or a the beginning of a larger overall market sell off?.
Here's a list of Stocks in this sector that will be exposed
www.marketwatch.com/investing/fund/xlv
