SPDR S&P Health Care Services Fund

  • TickerXHS
  • ISINUS78464A5737
  • ExchangeNYSE Arca
  • SectorNonequity Investment Instruments
  • CountryUnited States
Dave Nicoski ...
  • Ross LaDuke

Vermilion ETF Pathfinder: Actionable ETF research & Ideas

S&P 500 Testing Support Amid Uncertainties Short-term support levels have been violated on the S&P 500, Nasdaq 100, and Russell 2000 due to uncertainties surrounding rising COVID-19 cases/potential stay-at-home orders, and ongoing uncertainty surrounding new stimulus and the election outcome. While we remain constructive over the intermediate-term, short-term breakdowns have shifted our near-term outlook to a more neutral stance. · Key S&P 500 Levels. We believe caution is warranted following recent short-term breakdowns. Important support levels on the S&P 500 include 3200-3230 foll...

Dave Nicoski ...
  • Ross LaDuke

Vermilion ETF Pathfinder: Actionable ETF research & Ideas

Upgrading Real Estate and Utilities to overweight The S&P 500 peaked near 2,817 resistance following the Trump-Xi meeting at the G20 summit, and is now hovering near the critical 2,600 support level. Our baseline expectation is for continued consolidation between these support and resistance levels. The ultimate breakout or breakdown will be key in determining where the market goes longer term. Meanwhile, barring meaningful clarity on the U.S.-China trade front or Fed policy, the market remains vulnerable to a breakdown. • Overweight large-caps. We are shifting from market cap neutral to o...

Dave Nicoski ...
  • Ross LaDuke

Vermilion ETF Pathfinder: Actionable ETF research & Ideas

Cautious outlook intact We continue expect additional consolidation, volatility, and potentially lower prices as the market attempts to stabilize. Important levels we are monitoring on the S&P 500 include support near 2,600 and resistance near 2,817 - which currently coincides with both the 100-day and 50-day moving averages. • Big picture trends. The growth (IUSG) vs. value (IUSV) uptrend is breaking down in favor of value -- shift exposure from growth to value. The large-cap (IVV) vs. small-cap (IJR) ratio is similarly inflecting in favor of small-caps -- we are shifting to market cap ne...

Dave Nicoski ...
  • Ross LaDuke

Vermilion ETF Pathfinder: Actionable ETF research & Ideas

A defensive shift as volatility returns A multitude of concerns including rising interest rates, China-U.S. trade tensions, fears of margin contraction, and a tight labor market has led to a breakdown in the S&P 500's uptrend. Our outlook is extremely cautious. And, to the extent that none of the aforementioned concerns have been resolved, we are likely to see a prolonged period (likely several weeks) of consolidation, volatility, and lower prices as the market attempts to find a bottom. In addition, we believe a retest of the early-2018 lows - and potentially lower – cannot be dismissed. ...

Dave Nicoski ...
  • Ross LaDuke

Vermilion ETF Pathfinder: Actionable ETF research & Ideas

Downgrading Discretionary and Financials In recent months we have highlighted rising interest rates as a concern, asserting it has the potential to derail the market's advance. Last week the 10-year and 30-year Treasury yields broke above critical resistance areas - 3.1% and 3.25%, respectively. The sell-off in bonds coincided with a stumble for the U.S. stock market, but no derailment yet considering the S&P 500's multi-month uptrend remains intact. For now we remain constructive with the uptrend intact, and we are monitoring the 50- and 100-day moving averages for support. • Big picture ...

Dave Nicoski ...
  • Ross LaDuke

Vermilion ETF Pathfinder: Actionable ETF research & Ideas

Upgrading Real Estate and Utilities to overweight The S&P 500 peaked near 2,817 resistance following the Trump-Xi meeting at the G20 summit, and is now hovering near the critical 2,600 support level. Our baseline expectation is for continued consolidation between these support and resistance levels. The ultimate breakout or breakdown will be key in determining where the market goes longer term. Meanwhile, barring meaningful clarity on the U.S.-China trade front or Fed policy, the market remains vulnerable to a breakdown. • Overweight large-caps. We are shifting from market cap neutral to o...

Dave Nicoski ...
  • Ross LaDuke

Vermilion ETF Pathfinder: Actionable ETF research & Ideas

Cautious outlook intact We continue expect additional consolidation, volatility, and potentially lower prices as the market attempts to stabilize. Important levels we are monitoring on the S&P 500 include support near 2,600 and resistance near 2,817 - which currently coincides with both the 100-day and 50-day moving averages. • Big picture trends. The growth (IUSG) vs. value (IUSV) uptrend is breaking down in favor of value -- shift exposure from growth to value. The large-cap (IVV) vs. small-cap (IJR) ratio is similarly inflecting in favor of small-caps -- we are shifting to market cap ne...

Dave Nicoski ...
  • Ross LaDuke

Vermilion ETF Pathfinder: Actionable ETF research & Ideas

A defensive shift as volatility returns A multitude of concerns including rising interest rates, China-U.S. trade tensions, fears of margin contraction, and a tight labor market has led to a breakdown in the S&P 500's uptrend. Our outlook is extremely cautious. And, to the extent that none of the aforementioned concerns have been resolved, we are likely to see a prolonged period (likely several weeks) of consolidation, volatility, and lower prices as the market attempts to find a bottom. In addition, we believe a retest of the early-2018 lows - and potentially lower – cannot be dismissed. ...

Dave Nicoski ...
  • Ross LaDuke

Vermilion ETF Pathfinder: Actionable ETF research & Ideas

Downgrading Discretionary and Financials In recent months we have highlighted rising interest rates as a concern, asserting it has the potential to derail the market's advance. Last week the 10-year and 30-year Treasury yields broke above critical resistance areas - 3.1% and 3.25%, respectively. The sell-off in bonds coincided with a stumble for the U.S. stock market, but no derailment yet considering the S&P 500's multi-month uptrend remains intact. For now we remain constructive with the uptrend intact, and we are monitoring the 50- and 100-day moving averages for support. • Big picture ...

Dave Nicoski ...
  • Ross LaDuke

Vermilion ETF Pathfinder: Actionable ETF research & Ideas

S&P 500 Testing Support Amid Uncertainties Short-term support levels have been violated on the S&P 500, Nasdaq 100, and Russell 2000 due to uncertainties surrounding rising COVID-19 cases/potential stay-at-home orders, and ongoing uncertainty surrounding new stimulus and the election outcome. While we remain constructive over the intermediate-term, short-term breakdowns have shifted our near-term outlook to a more neutral stance. · Key S&P 500 Levels. We believe caution is warranted following recent short-term breakdowns. Important support levels on the S&P 500 include 3200-3230 foll...

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