July 12, 2011
Shares of the exchange traded fund Health Care Select SPDR (NYSE: XLV) have been strong since the middle of 2010. How are they holding up in the current volatility?
With the markets selling off on Monday, July 11, and a 2% decline in the S&P 500 Index – SPX, XLV was off just over 1% for the day. XLV is only 3% from its rally highs too.
Although XLV did cross below its 50-day moving average on Monday, it is well above its 200-day moving average.
XLV has strong support at $34.68, its June 24 correction closing low.
A close above $36.00 a share would point to a likely run and test of its rally highs.
The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy does hold a position in XLV.