Yesterday we wrote about the top health care companies in terms of what is oversold and what is overbought.
We have now added heath care ETFs to our live tracking system. The ETFs are listed below the top companies. Here is the current situation:
And there are our favorite measure, current RSIA values:
The most oversold ETFs are RXD, which is an ultra short for health care sector. The most overbought are RYH (Rydex equal weight health care), IHF (iShares Dow Jones Health Care), and IBB (iShares biotech).
Clearly the sector is overbought.