HEALTHCARE FINDS 100 DMA SUPPORT - IS FANG & NOSH NEXT?

As Bloomberg notes, valuations are a notoriously poor tool for market timing, and forward earnings estimates could prove to be too low, so this alone shouldn't necessarily serve as a sell signal.

However, notice the divergence in fortunes between tech and health care that's left the former trading at almost 1.4 times the forward valuation of the latter. 

That's a rather extreme divergence that seems like a good candidate for mean reversion.

The Healthcare sector continued to puke today, making it the worst week since 2018, but we note that it found support at the 100 DMA...

 


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SOURCE:  04-18-19 -   - "Trump Pumps, Dow Jumps, Small Caps Slump, Healthcare Dumps"

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