There was higher time frame short covering all day as support came into healthcare. However, there was a steep selloff late day with new shorts entering, pushing support away. I think that is the pro move. Stay away from buying or sell with them, not allowing too large of a stop.
A move to $122.00 with XLV 0.00%↑ on big selling capitulation is probably coming on this next major trendline break. Its a trendline from over a year and a half ago.
The market wide shared 80 week cycle peak from this summer and the recent (September) 20 week valid trendline breakdown as well as SPY 0.00%↑ not hitting 4200, yet, makes me think that this ETF will break the weekly lows this week, and all pullbacks will be sold.
Selling the 128.00 - 130.00 area this week is a professional entry and a target of 122.00 will produce a good result over the coming weeks.
This would be a 100% extension of the previous sell move.