Chart of the Day - Monday, November 18th, 2019
November 18, 2019
Today’s Chart of the Day was shared on Twitter by @theycallmetex. It's a weekly bar chart of the Health Care sector ETF, $XLV. The top three holdings in this ETF include Johnson & Johnson ($JNJ), UnitedHealth Group ($UNH), and Merck ($MRK). Health Care is the second-worst performing sector over the past year. However, on Friday, the sector printed its first all-time high in nearly a year. As you can see from the chart, $XLV is looking like it will make another leg higher as it breaks out of a multi-month base. It's hard to be bearish on the broader market when even the most hated sectors are breaking out to all-time highs.