XLK trade ideas
Three weekly Pinbar patterns inside a weekly PRZXLK just completed its 3rd weekly Pinbar pattern inside the PRZ of the bearish Bat I've mentioned in my previous analysis.
Although there are no clear signs of weakness yet... and we are in the summer...this still should be considered as a warning signal for the bulls
and opportunity for bears.
$XLKIf I'm already in the market, I will not close my position now. If I'm out now, I will sit back and watch it for a few days before I jump in. AMEX:XLK
Energy Will Probably Outperform Tech in the Next 2-3 YearsSmaller time frame chart clearly shows the out-performance of tech over energy is topping out, and will probably end in about 2 months.
Starting 4Q 2017, it will be clear energy will out perform tech, and maybe the general market also.
XLK - TECH WILL MOVELooking for XLK RSI to move back into the bullish trend zone and the high fib level to breach - then maybe AAPL will start to move!!
78% probability trade on XLK (Big Lizard)With an Implied volatility rank at 49 I did a Straddle with no upside risk (Big Lizard) on XLK for $2.12 per contract. Our break even is at $51.88 price and with 50 days to expiration that gives us a 78% probability of profit.
The trade:
Sell 18 AUG 54 Call
Sell 18 AUG 54 PUT
Buy 18 AUG 56 Call
Time back to 2000: Technical bobbleIf you wanna be a superman on Financial market, don't miss it. An opportunity to short technology stocks or index fund.
few weeks ago, AMZN crashed 40 bucks in one day, it means a lot. I am not sure it will happen , investors or big funds are not stupid. /S/L at 61, T/P at 44 or 12. Trade carefully.
Technology Sector Still UnclearH&S hasn't been broken yet, and this is currently in accordance with the throwback for a regular H&S. If XLK moves sideways instead of straight down next week, then there's the possibility that this is a failed H&S and further upside could be anticipated.
Technology Sector Still Weak - Video Analysis IncludedTechnology, like semiconductors are seeing continued weakness with a plunge that's different from all the previous minor corrections that we've seen over the year. Apple continues to bring the parade down. Here's my two predicted price paths for this technology ETF next week. I believe we may be experiencing a Head and shoulders
This week's Video Analysis: www.youtube.com
XLK Tech turning pointInteresting to see what tech does here, break up or bounce down to form right shoulder. Bullish volume Friday. RSI looks to have room up so it could also slowly grind up a bit higher
Technology Sector.Calling my shots early. The odds this is correct is 1:10 but I see a lot of the early indications that occur during a descending triangle.
I think tech is oversold but I see more downside to come. I can easily see it popping next week and then continuing it's descent.
Elliott Wave Analysis of the Tech SectorMy understanding of elliott wave is very limited and this is not a prediction. From this post I am hoping to get comments from the community on how well this count is. My nomenclature also may be incorrect some comments on that would also be appreciated.
The tech sector is currently in "minor" wave 4 of "intermediate" wave 5 based on my count and could see major correction after the completion of the "intermediate" wave 5 which would be concluded after one more rally. Constructive criticism is encouraged.
Tech stocks at confluence resistanceTL from 2006 & 2009 lows and horizontal supply zone from 2000 top
Bearish harmonic pattern near 2K tech bubble levelsXLK has been one of the main forces behind the U.S stocks market rally since Trump was elected.
XLK is up almost 20% since the U.S elections and it is now approaching the 2K tech bubble levels.
Bearish Bat pattern will be complete just below 60$
Interesting price zone to watch in near future.
Are we near the end?
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long tech/short crude $xlk $oihTime to take some of the table as this pare trade is reaching extreme OB area and 61.8 fib extension.
