Prepared for you by Randy Dunham
October 15, 2026
THE PRINT
Equal-weight healthcare is hitting all time highs despite a weak tape.
THE CHART(S) / DATA
Note: I’m using the equally weighted ETFs because it gives a fairer representation of the sector.
Healthcare is not usually the sector that gets people excited. It’s often viewed as a boring, defensive area of the market.
And for many years, that’s been the correct assumption.
But this year has been different. RSPH, the equal-weight healthcare ETF, is up more than 19% year-to-date. Even on a weak tape yesterday, RSPH made new all-time highs.
The RSPH/RSP ratio is also breaking out. It’s currently at levels not since since September 2024:
This could be the start of a long-term trend change for the ratio chart (i.e healthcare outperformance).
Takeaway: Don’t overlook healthcare. RSPH is making new all-time highs and the ratio chart is breaking out. Price is signaling a potential shift toward sustained outperformance.
THE TAPE
THE HIGHS AND LOWS
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Material, data, and information in this newsletter are for informational purposes only. This is not tax, legal, or investment advice, and does not constitute a suggestion, solicitation, or offer to buy or sell securities. TTI believes this information is reliable but does not warrant its completeness or accuracy.