XLK - H+S TOP in time for wave 3 lowerIf the picture perfect H+S Top pattern is correct then we are about to head down in wave 3 to break neckline and head towards 65.30 area.
Short, stop above right shoulder, t/p 65.30
XLK trade ideas
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
Passive investing piling into one sector $xlkLooks to me like everyone is piling into xlk. Look at the chart for $msft $aapl $amzn $nvda $nflx They all look virtually the same. No individual price discovery, just mob mentality. Be careful. all have negative RSI divergences. When everybody is on one side of the boat.....
Top in XLK ?Could we have a 5th wave top in place in XLK yesterday/today? If so there is a long way to go lower.....
XLK: potentially failed bearish Gartley PatternXLK reversed from the PRZ of the bearish Gartley Pattern after clearing all three targets. However, it quickly moved back into PRZ and stayed there.
If the Terminal Price Bar (labelled as D) will be violated, the price will go higher with the predominant trend.
Watch out for 70.42.
Tech ContinuationTech looking poised and strong while coiled over an 8 day trading period. Looking for a continuation in XLK.
XLK Daily Chart Analysis - 11th MayXLK had a nice breakout play from breaking out of the downtrendline :)
XLK Daily Chart Analysis - 7th MayXLK
Charted this previously awhile back and it seems that the bias is an upward breakout.. looks like Tech is back in play
XLK Daily Chart Analysis - 3rd MayXLK is looking pretty interesting as well and as the price consolidates, usually we will see a breakout..
Let's see which direction it breaks out to
XLK technology. Idea for shorter termLast advance of technology set a new high. The big question is that THE TOP or just the first of 5 up waves to THE TOP. As usual I don't know. In the meantime I think there is a good chance the gaps will be closed. One is at the .62 retraction level. The other at the .78 level. Process your way.
1X bull XLK
2X bull etf: ROM. bear REW
3X bull etf: TECL. bear TECS
XLK shortTechnology sector breaking down from med term uptrend from 2016. Below Ichimoku cloud and approaching key s/term support. Below 60 not much support until 54 area.
Short term weakness in the TECH sector?Facebook has been in the limelight for tanking cause of the news , but this chart shows that the tech sector has been tanking for a while now, will it continue I don't know but my outlook is bearish until price breaks through 68.37 in XLK
XLK is at a potential bounce pointXLK found short term support here on the monthly support line back in February. This is a risky area for sure. Tech leading the down move is not good for a long term bounce in the markets.
Bear signal appearHead shoulders has already been there. Set up the price around there the arrow from and short to the point where it is at.
