Tech sector showing weakness despite gains on election dayWhen comparing tech focused ETFs/indexes, namely $NDAQ and $XLK, we can see that $SPY has recently been outperforming them. My theory is that this is an unusual case and a sign that tech stocks are near tops.
Given that I did not receive the dip I wanted, I have difficulty putting on a short position on tech. There is also the factor that the highs have not been truly swept yet.
Just something to keep an eye on.
$NDAQ/$SPY
$XLK/$SPY
For options plays, it would appear leaps for $NDAQ would be ideal, while short term plays on $XLK would work out. $NDAQ is quite illiquid.
