11/25 Best Idea For The Week Ahead

One of the best looking sectors at this moment is the medical devices space. Here is the weekly chart of the IHI, the medical devices etf. Beautiful price action with the macd close to inflecting positive for the first time in months. This sector was badly beaten down by GLP-1 fears which are just ludicrous. The concept of people losing weight via injection is better than nothing, but it doesn’t change the fact that without a change of diet, the internals are still going to remain damaged and/or worsen. The notion that many medical devices names are on a long term trajectory to zero because everyone in society will begin to lose weight via GLP-1 injection is vastly overblown.

Here are the top 10 holdings of the IHI, we’re going to discuss one that has seen repeated options flows recently pointing correlating with a nice looking chart.