XLV 75.35: Looks to test the 76.01 record high

XLV has been grinding higher towards the 75.62 range high (May 29, 2015) which is near the 76.01 record high (March 20, 2015). A decisive break above the latter would confirm a higher base and extend the broad uptrend towards new targets at 76.65 then 79.53 (as shown on the daily chart). The immediate support lies at the 73.66 low (June 9, 2015). A push below would caution bulls and shift the focus towards the 72.68 area near the 5-month rising trendline.

Short term: bullish
Long term: bullish