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.