“Providing” Relief?
On a YTD basis, the diverse healthcare space has some separation. Higher thus far in 2022 is just the pharma and healthcare providers in the single-digit range. Lower are medical equipment and supplies and biotech. Investor’s affinity for the 2 better actors in the PPH and IHF (both illiquid but show the overall action within) may come back into vogue if they want defense. Leaders within include CI which is now back above the highs of the large WEEKLY range ending 11/11 that had a 40-point range top to bottom. HCA is trading amazingly taut on a WEEKLY basis CLOSING with a 239 handle the last couple of weeks and if that was to occur again this week would set up a bullish three-week tight pattern, and currently has the look of a bull flag formation too. Small cap play ADUS is still a good-looking chart as long as it can remain above the 105 level. The chart below of the IHF is now showing a bullish inverse head and shoulders pivot of 280. Look for further strength from this group if that is taken out into year-end.