“Providing” Relief:

As sexy biotech names capture most of healthcare investors attention, and deservedly so, the healthcare provider names have been under the radar. The group probably does not mind the focus elsewhere, as the funds PRICE action puts its head down and grinds higher. The ETF itself stormed higher by 6.6% last week in robust trade, and give big time credit for the consolidation the 8 weeks immediately preceding that, which digested the 11.6% romp the week ending 11/6/20. This week so far, albeit short lived, is stubborn in giving back any of those gains. The top holding in UNH has carved out a cup base pivot of 368.05, although it looks a bit reluctant to break above the trigger, but losses the last 3 sessions have been negligible. CVS, the second largest component, took out a cup base trigger of 74.74 on 1/8 and is quickly approaching the round 80 number, which has been tough to climb above dating back to 2017. This space has mojo, and that is often hard to reverse once it gets going.

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