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Last week was a good week for the Technology sector, and one catalyst for the sector was the Consumer Electronics Show (CES) which, as we highlighted in last Monday’s Chart of the Day, has historically provided a boost to the sector’s performance. With the CES now in the rearview mirror, this week may be the Health Care sector’s turn as the JP Morgan Health Care conference kicks off. Like the CES for Technology, this conference has historically been a positive catalyst for the Health Care sector.
Year to date, Health Care has already been the fourth-best performing sector and was the third best performing sector last week. Heading into this week, Health Care is already overbought (like just about every other sector), and its timing score in our Trend Analyzer is neutral. While the JP Morgan Health Care Conference is working in the sector’s favor, recent polling data that has Sanders and Warren in the top two spots in Iowa may limit some of that upside in the early going today.