The S&P 500 is now trading at more than 20x forward earnings. However, when the market is rallying strongly near the end of a quarter, investors don’t care much about stretched valuations.
Despite some negative news out of United Healthcare this week, the XLV healthcare ETF is testing a key resistance level. Therefore, f it can rally much further, it could signal that this defensive group will surprise people to the upside this summer.
It’s too bad that Homer Jones…the man who brought us the “spike” after TD’s in the NFL…has become a forgotten man in NY Giants history. May he rest in peace.
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