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Healthcare ETF Looking Robust


Friday November 28th, 2008
Healthcare ETF Looking Robust
by Mike Paulenoff www.MPTrader.com
Healthcare ETF Looking Robust
By Mike Paulenoff, www.MPTrader.com

Many of the major components of the SPDR Select Healthcare ETF (AMEX: XLV) have been acting well technically and exhibiting patterns that argue for more upside directly. These include Johnson & Johnson (JNJ), Merck (MKR), Pfizer (PFE) and Eli Lilly (LLY). Let's expect continued strength in the ETF that next confronts a key 8-week resistance line, now at 25.35/40. If hurdled that will trigger upside follow-through towards my optimal target zone of 27.20/60.

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