State Street Health Care Select
Investment Thesis
XLV broke below its 200-day moving average ($146.73), which has now flipped to resistance. Healthcare has been the worst-performing major sector relative to SPY over the past year (-19.7%), and the technical regime remains firmly negative with price below both key MAs.
Catalysts to Watch
XLV broke below its 200-day MA ($146.73) in mid-April and failed to reclaim it on multiple retest attempts; the XLV/SPY ratio simultaneously broke below both its 50-day and 200-day SMAs, confirming structural relative underperformance.
Why It May Work
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Timeline
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