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SPDR Select Sector Fund - TechnologySPDR Select Sector Fund - TechnologySPDR Select Sector Fund - Technology

SPDR Select Sector Fund - Technology

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XLK trade ideas

The XLKs are the main thing I'm watching this weekI think that the most important thing to watch in the equities market this week is the action in the Technology Sector...the XLKs. They are testing an important resistance at the $71 level. This level is important because it was an all-time high in March, followed by a quick selloff. Then it became support throughout most of May. If the XLKs fail here they will take the broader markets lower. This sector is the largest in the S&P 500 at 28%. As of right now they (11:31) they are trading just above it at $71.26, but they are off their highs. My guess is that they will roll over in the next few days but only time will tell. I try not to be 'married' to an idea because I'm the first to admit that the market knows more than I do. I try hard to not have opinions and just to be an observer and let the markets tell me what to do, but as experienced traders know this is much easier said than done.
AMEX:XLK
by Mputrino
XLK Potential Bull Trap; " Bearish Throw Over" Pattern.The S+P Technology ETF XLK experienced a "Bearish Throw Over" Break to the Downside on 6/25,pattern noted often by Trading View trader Geoff, occurring when price breaks above resistance, trading above it for multiple days, only to break back below it, dropping price back into the previous pattern, and with it, a potential " Bull Trap " now exists on the XLK chart. NYSE FANG Index has a similar pattern building , as big technology shares reversed from their recent break to the upside. THE_UNWIND
AMEX:XLKShort
by The_Unwind