We’re very excited to present our Squeeze Engine, one of the main tools that powers the success of Breakout Multiplier.
US Health care $XLV is on course for its highest close ever today. That would mark a near 25% recovery in one quarter.
This is a diversified space, with all manner of defensive and offensive players. There are plenty of speculative stocks, plenty of blue chips, and many more in between.
Here’s today’s standout:
The U.S. Medical Devices ETF $IHI is currently exhibiting a Squeeze Score of 79.1 and an even tighter Long-Term Score of 92.6
Volatility in medical devices is sitting near multi-month lows in the context of a multi-year structural trend reversal.
Price is jetting higher off of this tight coil, breaking a key resistance level around 63.
Like all indices, IHI will have leaders that already completed similar patterns, and laggards that will attempt to do so.
We’ve been early and patient with this theme, trading MDT for a double earlier in the quarter.
We continue to like the rotation into healthcare and medical devices.
