[isatrader]

Healthcare US ETF XLV had a continuation breakout yesterday about $48, now $48.50, in line with the string of individual healthcare stocks isatrader identified on the S&P500 Daily Breakout lists. http://scharts.co/18HmzxL
The question is whether to be worried by the distance from the 30 week MA, which has been a bounce line. Weinstein I guess would not be worried, but should we be very patient and wait a few months for a retrace and then buy on the renewed breakout above $48?

I think if you are looking at it from an investment perspective then distance above the 10 and 30 week MAs is important to consider as it's had a very strong Stage 2 run since December 2011 with a few significant pullbacks to the 30 week MA. But since January it's been particularly strong and has accelerated away from it 30 week MA and so is in Stage 2B and I don't think suitable for an investor to consider until the next significant pullback towards the 30 week MA. A trader however, might be able to play the continuation move, but I think might have similar considerations about chasing it here.

I think looking at the technical rankings of the US ETFs on stockcharts.com it's clear that it's Biotech companies leading the Healthcare sector advance, as there are numerous Biotech ETFs in the top 50 and 2 in the top 10 ranked ETFs.

Attached is the Healthcare sector chart (XLV) and the top 50 US ETFs technical rankings list.