Health Care Select (NYSE: XLV) and Pharmaceutical HOLDRS (NYSE: PPH) Still in Rally Mode
May 17, 2011
Shares of Health Care Select (NYSE: XLV) and Pharmaceutical HOLDRS (NYSE: PPH) both moved higher on Monday May 16, a day when most sectors and the major indexes sold off.
In fact both sectors have not suffered at all in the weak markets that have been hammering stocks since late February.
With the S&P 500 Index (SPX) down some 2.6% since its February 18 highs and down 4.1% from its most recent April 29 closing high; Health Care Select is up 10.1% and up 2.4% while Pharmaceutical HOLDRS is up 8.7% and 2.1%.
There is little in the way to higher highs in coming weeks.
Support for Health Care Select is at $35.15. Support for Pharmaceutical HOLDRS is at $70.74.
http://www.fibtimer.com ETF Timing Strategy currently has positions in both Health Care Select and Pharmaceutical HOLDRS.
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