Today closed back under the turn. It happened a lot quicker than I thought it would. I see the odds in favor of continued market pullback. Therefore, I’m thinking a complete pivot reset is the more likely outcome than just a retest. With that in mind, I’m not going to take the trade just yet. Considering the big RS within a sector that is already a bit stronger than the general market, I like the odds of being in this trade when the time is right. Also, the Health Care sector is typically a defensive sector, which gives it better odds despite overall market weakness.
