Stocks Rebound, Major Averages Close Near the Highs of the Day
- Stocks Close Near the Highs of the Day
- Health Care Testing Key Relative Support…
- …As Health Care Equipment Leads SPY
- Materials and Industrials Show Signs of Stabilization
- Futures Point to a Mixed Open Today
Key Chart – SPDR S&P Health Care Equipment ETF
While the Health Care sector tests relative support, the SPDR S&P Health Care Equipment ETF (XHE) is beginning to lead the SPY as it trades near 52-week highs and is above the rising long-term trend line. The fund has room to an overbought position and the Chaikin ETF Power Gauge Rating is bullish despite a near-term down tick in Chaikin Money Flow.
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