Benzinga | Jul 2, 2021 09:46AM EDT

This ETF Just Broke Out To An All-Time High

Big Tech and cryptocurrencies seem to get all of the attention. But Thursday, it was the healthcare stocks that led the way.

The Health Care Select Sector SPDR Fund ETF (NYSE:XLV) follows the health care sector and it broke out to a new all-time high.

Why It's Important As the market works its way higher, some investors believe a large sell-off is coming. Because of this, they're taking money out of risky assets and moving into stocks in sectors that are perceived as being more conservative.

Health care is one of them. This bullish action in XLV could actually be a bearish sign for the broader markets.