Respect The Leaders:
Regardless of what group your stock has emanated from it most likely has undergone some type of trauma. The “best” major S&P sector YTD is the consumer staples, and they are lower by more than 9% thus far. As of Mondays CLOSE, just 21 of the S&P 500 stocks were above their 200 day SMA. That is a select list, and one any investor should hold in high esteem. The name below is one of those in VRTX, and it became battle hardened at that long term moving average in recent days, and for the time being is holding strong. Notice round number theory comes into play with a pushback at all time highs at the 250 number, and seems to have found a floor at the 200 figure. It has decent excellent relative strength down just 16% from most recent 52 week highs, while the XBI trades 31% off its own. Anyone looking for other generals has to look no further than REGN, which presently sits just 5% off all time highs, and doing battle with the very round 500 number for the second time this month.