Health Care Sector Update for 03.01.2008

SELECT SECTOR SPDR HEALTH CARE ETF - XLV

Monthly chart shows continued weakness with no buy signal/pattern evident on this timeframe. The key LIS (line in the sand) where "old resistance becomes new support" has been breached.

Weekly chart shows price to be stuck in consolidation. IF there is continued weakness, THEN look for test of the current support and low of $30.35 area.

Daily chart better shows the consolidation range of the past couple of weeks. Thursday and Friday saw increased selling pressure as bears gapped down prices at the open in their haste to unload their positions. Look for test of the current low next week.