Sunday, March 16, 2008

What Happened To the Health Care Sector?

You'd think that health care would be doing at least reasonable well in a troubled and turbulent market. After all, people are always going to get sick, right?

The above chart says otherwise. Notice the following:

-- Prices are 16% below their top of early December 2007

-- Prices are 12% below the 200 day SMA

-- Prices are near the 1-year low

On the three month SMA chart, notice the following:

-- The shorter SMAs are below the longer SMAs

-- Prices are below all the SMAs

-- All the SMAs are heading lower.