STOCK INDEXES HIT NEW RECORDS -- HEALTHCARE, COMMUNICATION, INDUSTRIALS, AND TECHNOLOGY ALSO HIT RECORDS -- INTERNET STOCKS LEAD XLC HIGHER -- SURGE IN HEALTH INSURERS LEADS HEALTHCARE SPDR TO NEW RECORD -- UNITEDHEALTH IS ONE OF DAY'S LEADERS

THREE MAJOR STOCK INDEXES HIT NEW RECORDS...Stocks are ending the week in record territory.  The three charts below show the three major U.S. stock indexes closing at record highs on Friday.  And the rally is pretty broad-based.  Ten of the eleven market sectors gained on the day.  Healthcare (XLV) and communciation services (XLC) were the day's strongest sectors and hit new highs.  So did industrials and technology.   The XLC hit a new record for the first time and was led higher by internet stocks.  A surge in health insurers helped make healthcare the day's strongest sector.

COMMUNICATION SPDR HITS RECORD FOR FIRST TIME...Yesterday's message suggested that communication stocks might be the next sector to hit a new record.  That record was hit today.  Chart 4 shows the Communication Services SPDR (XLC) rising above its July peak today to put it at an all-time high.  It's being led higher by internet stocks.

INTERNET INDEX NEARS UPSIDE BREAKOUT... Chart 5 shows the Dow Jones Internet Index nearing a test of its spring and summer highs.  Its chart pattern over the last six months has the appearance of an bullish ascending triangle which is defined by a rising lower trendline and a flat upper line.  And is usually resolved by an upside breakout.  Alphabet (GOOGL) hit another record of its own today and is one of the biggest contributors to today's internet and XLC gains.

HEALTHCARE SECTOR GOES FROM LAGGARD TO LEADER...The healthcare sector has suddenly gone from a market laggard to a market leader.  The daily bars in Chart 6 show the Health Care Sector SPDR (XLV) surging to a new record today and leading the rest of the market higher.   Just a month ago the XLV achieved a major bullish breakout by rising above its 2018 and 2019 highs (green circle).   Its relative strength ratio (upper box) is also starting to recover, but is still low compared to the rest of the market.  That's makes healthcare more attractive to investors looking for cheaper value stocks that are just starting to show new leadership.  Although all groups in the XLV gained ground today, health insurers were the biggest gainers.

HEALTH INSURERS SURGE... Chart 7 shows the Dow Jones Health Care Providers Index surging today to the highest level in a year.  Its relative strength ratio (upper box) achieved a bullish breakout of its own.  Most stocks in that group had a strong day.  Chart 8 shows UnitedHealth Group (UNH) achieving an upside breakout of its own to help lead the XLV higher today.