The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at
I am always open to questions, comments, or suggestions on how to improve this blog.

Saturday, December 11, 2010

Healthcare sector lit up

CYH's bid for THC brought some attention to the XLV this past week.
Currently XLV is down 1.5% for 2010 (the most lagging of the 10 most tracked sectors, followed by Utilities, XLU and Financials, XLF).

weekly charts showing all sorts of inverted H&S patterns with an overhead neckline:
XLV -Could have a breakout move in the week ahead

CYH, of course that big move all happened in one day though-

THC again, a one-move wonder on Friday-

While other components of the XLY show some promise.
A lot of clear air above for UNH

MRK - broke out from this W-bottom pattern and looks to try to regain $36.50 support

AMGN - formed a hook (seed wave) with what looks like a breakout candle on Friday

PFE is interesting.  This weekly chart shows a large amount of volume over these past two years.  While price recently broke out of and re-tested this LONG-standing down trend line

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