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Dow Stocks Drop As Boeing, Apple Weigh; Bitcoin Dives To 1-Mo. Low

Key stock index funds were lower in afternoon trade. The tech-heavy QQQs turned negative, while blue chips fell most as Boeing (BA) and Johnson & Johnson (JNJ) weighed.

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PowerShares QQQ Trust (QQQ) dipped 0.2%, SPDR S&P 500 (SPY) gave up 0.3% and SPDR Dow Jones Industrial Average (DIA) fell 0.7% in the stock market today.

Utilities, gold miners and technology were among the top sector fund gainers. SPDR Utilities (XLU) rose 0.6% to retake its 50-day moving average for the first time in three months. VanEck Vectors Gold Miners (GDX) and VanEck Vectors Junior Gold Miners (GDXJ) were up 0.3% each.

Health Care Select Sector SPDR (XLV) reversed to a loss. UnitedHealth Group (UNH) was one of the Dow's biggest gainers early before falling nearly 0.5%. But Cisco Systems (CSCO) held a 0.6% gain.

The biggest losers included Boeing, which undercut the 50-day moving average and triggered a sell signal, DowDuPont (DWDP) and Johnson & Johnson.

Apple (AAPL) slipped 0.4%, one day after hitting a new record high, then reversing lower. It's back below a 180.71 buy point of a V-shaped cup with handle. Boeing and other industrial giants were getting hit amid continued tariff-related concerns.

Homebuilders, banks and metals miners led the downside among sector funds. SPDR S&P Bank (KBE) and SPDR S&P Regional Banking (KRE) fell around 1% each, on track to extend their losses for a third straight session. Both ETFs are nearly 3% below their recent highs.

Bitcoin sank 9% to $8,318, according to CoinDesk, after opening above the $9,000 level. Bitcoin Investment Trust (GBTC) gapped down and tumbled 9% to 13.35, near session lows and at a one-month low. It's mostly declined since trying to retake its 50-day line on March 5, and is now 65% off its December peak.

Healthy Gains?

Dow stocks Johnson & Johnson and UnitedHealth Group were among blue chips showing healthy gains on Tuesday.

SPDR Health Care (XLV) remains in potential buy range after retaking its 50-day moving average on Friday. It is forming a new base with a 91.89 buy point, too. Keep in mind that the broader market has been volatile lately. The fund undercut its 200-day line during the early-February market correction. For now, it appears to be in an overall uptrend.

Shares advanced 13% from the last time XLV was featured in this ETF column on Sept. 6. At that time, the fund was just below an 81.31 buy point of a flat base.

The $16.2 billion ETF, which celebrated its 19th anniversary in December, tracks the Health Care Select Sector Index. Pharmaceuticals represented the biggest segment of its holdings as of March 12, at nearly 32% of assets. Biotech was next at 21%, while two categories accounted for about 20% each: health care equipment and supplies, and health care providers and services. Life sciences tools and services plus health care technology made up the rest.

The top five holdings included four Dow Jones industrial average health care names: Johnson & Johnson, Pfizer (PFE), UnitedHealth Group and Merck (MRK). The non-Dow stock in the top five was AbbVie (ABBV). Together the top five accounted for roughly a third, or 34%, of the 61-stock portfolio. The Dow quartet's year-to-date performance ranges from -4% to 3%. AbbVie, however, has soared 24% this year.

XLV's 4.3% year-to-date gain through March 12 was in line with the S&P 500's 4.5% return. The ETF's average annual return over the past three years lagged the S&P 500, but outperformed the broader index during the past five, 10 and 15 years. XLV bears a 0.13% expense ratio.

Tuesday's pick, Guggenheim S&P 500 Pure Growth (RPG), reversed lower during the session but closed just above a 115.49 buy point.

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