JohnnyYoung
09-30 04:16

$Health Care Select Sector SPDR Fund(XLV)$ Health Care sector setup review.

XLV looks like a valid setup right now. The weekly RSI is at a healthy 63.95, inside the 51-85 window, and SCTR is high at 87.4. The weekly Renko chart shows a shallow, orderly 4-brick red pullback that held support above the rising EMA(20) at 162.72. On the 195-minute Renko chart, the 2nd consecutive green brick has printed at 171.00, with a fresh upward hook in StochRSI at 0.383.

Overall, this looks like a strong alignment, and the sector is showing green for long entries.

One thing to keep in mind: the SPY 195-minute 1% Renko chart currently has a red brick. I would want to see a green brick print before taking any new long positions.

$SPDR S&P 500 ETF Trust(SPY)$  $Invesco QQQ(QQQ)$  $iShares Russell 2000 ETF(IWM)$  $SPDR Dow Jones Industrial Average ETF Trust(DIA)$ 

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