Two Green Days in a Row as Stimulus Hopes Lend a Bid to Battered Markets
- Two-Day Winning Streak on the Back of Stimulus Hope
- Breadth Metrics are Washed Out, Some Begin to Shift
- Highlighting Upside Retracement Levels
- Health Care Equipment has Potential if a Base Builds
- Futures Point to a Lower Open Today
Key Chart – SPDR S&P Health Care Equipment ETF – XHE
The SPDR S&P Health Care Equipment ETF (XHE) has seen its relative strength move back into bullish territory over the past two days. The fund has a Neutral + Chaikin Power Gauge ETF rating but we are most impressed by the Chaikin Money Flow readings which have spiked to local highs. When the market begins to stabilize, we would expect this group to exhibit signs of leadership.
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