XLK - 2 bearish (and 1 bullish) counts for US tech stocks
It might look a bit foolish to bet against US tech with the action of the last 11 (even 20+) years but both these counts reckon there might be room for a decent correction (blue count) and for a much larger and prolonged correction (red count) . (There is another variation for the red count that suggests the correction that began in 2018 finished a running flat in March 2020 and what we are experiencing now is in fact the early stages of wave 5.) Personally, I like the blue count......
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.