Conviction: 4/5
Health Care sector looks quite risky. It is touching long-term resistance (2008).
RSI-W is also putting in a seeming-start to bearish divergence.
Major indicator (perhaps) if this breakdown from short-term support.
Historically this could mean another few months of uptrend, but longer term this does not look good for the sector.
However, it is looking quite attractive relative to SPY, so could be a good place to hide when things go to the pooper.
Health Care sector looks quite risky. It is touching long-term resistance (2008).
RSI-W is also putting in a seeming-start to bearish divergence.
Major indicator (perhaps) if this breakdown from short-term support.
Historically this could mean another few months of uptrend, but longer term this does not look good for the sector.
However, it is looking quite attractive relative to SPY, so could be a good place to hide when things go to the pooper.
