Looking Under The Healthcare Hood:
The diverse healthcare space will see sub-sectors rise and fall. If one can latch on early to emerging trends they can potentially profit handsomely. As much as we are watching the biotech arena for a possible bump higher, at the moment medical equipment names are beginning to act firmly. On the PRICE chart of the IHI below, we see the right side of a cup base trying to take shape. The ETF is just 5% from most recent 52 week highs, while the XBI is now 23% off its own yearly peak. STAA is doing the same thing on its chart as it builds the right side of a possible cup base, although it is V-shaped, and those are somewhat failure-prone. TXG is sniffing out a cup base pivot of its own just above the very round 200 number. BRKR is honing in on its own cup base trigger that aligns with the round 70 figure. Watch SWAV for its double bottom base at the 140 number. Biotech, via the XBI, is showing some fragility Tuesday after a decent bounce off its 200 day SMA. Individual leaders in the group are scarce. Nothing wrong with waiting for some broad leadership to participate.