Healthcare sector looks to be a beneficiary of the turbulence in tech: Renaissance Macro's deGraaf
Speakers
Jeff deGraaf
— Technical Analyst, Renaissance Macro
Summary
Jeff deGraaf of Renaissance Macro discusses technical signals in equity markets. He sees healthcare breaking out and gaining relative strength after a long period of underperformance, while the broad market uptrend remains intact with confirming breadth but weak 20-day-high participation. He also flags gold as tactically overbought but still building a longer-term base.
- Healthcare sector has negative alpha historically but relative performance is now improving.
- Healthcare breakout was led by biotech and pharma and is broadening to life science and services.
- Broad market is trending at new highs with confirming breadth.
- 20-day-high participation remains anemic, suggesting rotational rather than broad momentum.
- Gold is short-term overbought after a surge but its longer-term trend has not changed.
- The speaker would not buy gold tactically but views it as building a base.
Ideas
Healthcare breakout is finally emerging.
Healthcare has been a long-time underperformer with negative alpha, but relative performance is finally improving and breakouts are emerging. The sector tends to benefit from turbulence in technology, and leadership has broadened from biotech and pharma into life science and healthcare service names.
Gold tactically overbought; avoid short-term buying.
Gold is tactically overbought after a recent surge, so he would not buy it very short-term. However, the longer-term trend has not changed yet and he thinks it is building a base, making it more good news than bad.
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This CNBC video, published August 12, 2026, features Jeff deGraaf discussing XLV, GLD. 2 trade ideas extracted by AI with direction and confidence scoring.
Speakers: Jeff deGraaf · Tickers: XLV, GLD