Since having reached the area near the all time high, the ratio of XLK/SPY has been in a pullback.
It looks like this might continue until we reach the bottom of the uptrend channel from where it could resume its uptrend to complet its 5th wave higher.
MACD and RSI are showing serious bearish divergence.
It looks like this might continue until we reach the bottom of the uptrend channel from where it could resume its uptrend to complet its 5th wave higher.
MACD and RSI are showing serious bearish divergence.
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Related publications
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.