Health Care Select Sector Spider (XLV) Looking Bullish

The Health Care Select Sector Spider (XLV) pulled back for the first time in 5 sessions after testing a low of $92.50. Fresh support at $92-$91.50 and the 50-day moving average held with a close below $91 signaling additional weakness and a possible short-term top.

Near-term resistance is at $93.50-$94. Continued closes above the latter would be a bullish development for a run towards $96 and fresh all-time highs.

RSI could be rolling over after failing resistance at 60 and early October support. Continued closes back above the latter would be a bullish development. Support is at 55-50 with a move below the latter signaling additional weakness.