CLICK ON CHART TO ENLARGE
This past Friday Healthcare ETF (IYH) pushed above its sideways channel in the chart above and IYH has been reflecting relative strength compared to the 500 index over the past couple of months.
Did the supreme courts ruling impact health care stocks in a positive way? Time will tell how the markets judge the ruling. From a Power of the Pattern perspective, IYH is breaking above this channel and the trade would be…. to own IYH with a stop just below the top of the sideways channel.