economy
The charts are showing there's more pain ahead for healthcare stocks, says Carter Worth
There is every indication there is more downside ahead, according to Carter Worth.
TL;DR
- Healthcare is the worst performing sector year to date.
- The Health Care Select Sector SPDR ETF (XLV) has a bad technical setup.
- Potential trend line break, two-year double top, and six-month head & shoulders top formations are present.
- Healthcare is making 10-year relative lows to the S&P 500 Index.
- Investors long or overweight in the sector should take measures.