Healthcare ETF $XLV Up 9 Days: Bounce back or Overbought？
The healthcare bounce back has been swift.
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Read more>>💥"Pharma Heaven & Hell": MRK & AMGN Lead Dow, LLY Hits ATH, Health Insurance Plunges
Health care ETF $Health Care Select Sector SPDR Fund(XLV)$ is outperforming every sector on a red stock market day.
It’s now up 9 days in a row. Only the 6th such streak ever, with the longest reaching 10 days. In past cases, the average max drawdown over the next 3 months was 7.8%.
Chart showing the XLV healthcare ETF price since 1999 with highlighted periods when the fund achieved 9 or more consecutive up days. A lower panel displays the number of consecutive up days over time, marking the current 9-day streak. A table summarizes past streaks, forward returns, and max drawdowns.
However, Seth Golden @SethCL on X pointed
Health Care sector $Health Care Select Sector SPDR Fund(XLV)$ is the most overbought it has been in more than 2 years.
Closed more than $2 above Upper Bollinger Band
Closed with 14-day RSI 82
Closed with 8-day win streak
High probability profit taking near-term with price consolidation proving opportunity!
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Historically, $Health Care Select Sector SPDR Fund(XLV)$ fell over the next few days.
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What’s your though on $Health Care Select Sector SPDR Fund(XLV)$ ?
Have more to expect or its overbought now?
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