ETF Screener: Healthcare Is On Life-Support

Submitted By The Correct Call

Despite the recent rally in the stock market, we found far more new sell signals than fresh buy signals in our weekly ETF screener. These finding only confirm our Monday morning technical analysis on the future direction of the indexes.

Many have called this rally the bottom; we see it as a bounce. If you drop a cat from the Sears, or is it Willis Tower?… anyway, when the feline hits the pavement, it’s dead, but it still bounces. We believe that’s where we probably are right now.

Healthcare ETFs appear to have been tossed from the top of the tower. Chart after chart show sell signal after sell signal. This is no surprise to us considering the new administration’s stance on health care profits. All of these healthcare related ETFs have flashed recent sell signals.

Nasdaq

(IBB)

Dow

(IHE)

(IHF)

(IHI)

(IXJ)

(IYH)

(PBE)

(PJP)

(PPH)

(PRFH)

(PTH)

(PTJ)

(VHT)

(XBI)

(XLV)

(XPH)

Other ETFs on the way down to the pavement include:

(PBJ)

(PJF)

(PKW)

(PIQ)

(UUP)

After you are done shorting the ETFs falling from the top, take the proceeds and put them to work in the following ETFs on the elevator ride up, new buy signals include:

(DOO)

(EWZ)

(PID)

China

(PGJ)

(IXG)

(RTM)

(PRFM

(USL)

(USO)

(DBE)

(GSP)