XLK Technology ETF - Trend Lines compared to Dot Com Crash
Updated
A look at how the counter rallies in the dot com crash compare to the market since 2003. The dark red lines all have the same slope on the log scale. I just moved them to align to the peaks.
You can also see that last week caused the price to break down out of the trading channel started in 2019 and then a retest Friday. This morning we are hovering under it.
It is not looking too good for tech since it has both to recapture the channel and break back above the trend line anchored to Jan 2001 peak. Crossing fingers.
1W
1D
Rejected off both the 20 and 200 day moving averages.
You can also see that last week caused the price to break down out of the trading channel started in 2019 and then a retest Friday. This morning we are hovering under it.
It is not looking too good for tech since it has both to recapture the channel and break back above the trend line anchored to Jan 2001 peak. Crossing fingers.
1W
1D
Rejected off both the 20 and 200 day moving averages.
Note
Rejected at 11:30. Curious to see if it will hold or not.Note
3/7 update and rejected off of trendline
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