XLV has the most oversold readings since 2008. - Specifically, the 1M slow stochastic is actually MORE oversold now then it was in 2007.
- We are sitting at a major trend line support. There’s plenty of 1-2M hammer candles along this area as well.
- we have pierced the Monthly Bollinger bands today. Every time we’ve pierced it (since 2008), it’s been bottom. We could pierce it deeper but I’d argue we don’t drop more than 2-3% from here.
My largest positions are in healthcare and crypto.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.