When the trend is up, I am generally looking for corrections and trying to find an ETF or stock that has a good chance of hitting a new high. The HealthCare SPDR (XLV) has been one of the strongest SPDRs this year and remains in an uptrend. The chart below shows XLV getting a bounce off support from the June-July lows. It would not take much to push this one to new highs again. The second chart shows the HealthCare Providers ETF (IHF) hitting a 52-week high in late June and then correcting into late July. The ETF broke above the wedge trend line in early August, fell back to test the last July low and surged back above 140 this week. The breakout remains valid and bullish.
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