XLK tech another leg downlook like tech might take another dip. google was unable to maintain gains from ER
XLK trade ideas
Support possible at 42.10 Will be interesting to see a bounce from most sectors if support holds. will provide great oppurtinity to short .
MACRO VIEW: XLK IN UPTREND ON ALL FRONTSXLK - the SPDR Tech sector ETF s in firm uptrend both on macro and on micro perspective, and it is the best-looking US sector ETF from the SPDR range.
On long term perspective price has broken back into the 5 and 10 year uptrend, trading above upper first standard deviation from 5 and 10 year means respectively
On long term perspective price has recently broken out into the quarterly and 1-year uptrend, trading above upper first standard deviation from quarterly and 1-year means respectively
Looks bubblish? maybe, but it is OK to dance while the music plays!=)
XLK 42.78-neutral- Consolidates within a 3-week range XLK has been consolidating within a 3-week range between 42.97 (July 23, 2015 high) and 41.83 (August 7, 2015 low). An upside break above 42.97 would extend strength towards the 43.81 double top (as shown on the daily cahrt). However, a breakdown below 41.83 (near the 200 day moving average) would suggest near-term topping and weaken towards the 7-month range low at 40.79 (July 9, 2015 low).
Outlook:
Short term: neutral
Long term: bullish
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1. Trend - Strength classification
2. Setup - Followed by Trigger (Hidden)
3. Most important - Setup Violation (Yet to be coded)
Sneak Peak
This is my Strategy for trading the most successful option trades (short term). Winning the game is all i focused. Panic reversal is what I was focusing. There are many ways - Probability is higher here.
About to test uptrend lineFirst test to yesterday's bears will be the uptrend line shown in the chart.
If it'll breakdown, the next test will be the 42.2-42.4$ support zone but then, with a broken uptrend line, it could be a matter of time before $XLK reached 41.5$
Technology Sector - Could reach resistance soon
The lines have some degrees of freedom so the area is not precise and could converge around June a bit higher...
but note that a spike here into the less consrvative lines could be it.
Analysis: A Bruised Bull? | $AAPL $GOOG $MSFT $SPDR $NYSEFriends,
As I was building a few charts with predictive analyses and forecasts for AAPL, GOOG and MSFT (The top 3 leaders in this $XLK holding (Source: finance.yahoo.com), I thought I should just as well chart it. The overall outlook is bullish, however, we have concerns for the short-term outlook based on the analyses of these top-3 constituents.
For instance, AAPL had initially produced a bearish signal in the shorter-term, only to produce an early bullish reversal pending confirmation. Yet, the long-term has a pending bearish market reversal confirmation. We expect the shorter-term signals to provide early directional indications, and based on what we receive from our proprietary strategy and signals, we will continue to provide the relevant interpretation of the charts - Here is the chart for AAPL: www.tradingview.com .
In contrast, GOOG contradicted a short-term bearish outlook we had initially interpreted. However, within a few days, GOOG carved new structure highs and at this point, we are expecting a bullish market confirmation signal in the short-term to add further support to the bullish market reversal confirmation signal we received out of the longer-term analysis. Here is the charts with bullish targets: www.tradingview.com
Finally, we looked at MSFT. From a mid-January low near 34.63, MSFT has thrived to climb its way back up towards our overhead resistance levels. As it continues to do so, both our short-term and long-term proprietary strategy and forecasting signals remain in a early bearish market reversal stance with a pending bearish market reversal confirmation, which we expect to be first expressed at the shorter-term level, if it ever occurred.
OVERALL:
XLK is a Bull, but a bruised one. While GOOG has the stamina of a horny beast, its accomplices are not as energetic. AAPL is the second most promising bull, so to speak, whereas MSFT represent the weak link in this technology trio. Question is whether the bearish downturn of one may weight down on the mass psychology and bring the other two down with it.
Cheers,
David Alcindor | 4xQuad
Predictive Analysis & Forecasting
Denver, Colorado, USA
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PS: Other recent analyses and charting:
SPDR: XLK, XLF, XLV:
XLK - Technology Select Sector/SPDR:
www.tradingview.com
Its Top 3 Leaders:
- AAPL: www.tradingview.com
- GOOG: www.tradingview.com
- MSFT: www.tradingview.com
(Source: finance.yahoo.com)
XLF - Financial Select Sector/SPDR:
www.tradingview.com
Its Top 3 Leaders:
- WFC (chart pending)
- JPM (chart pending)
- BRK.B (Berkshire Hathaway Inc Class - chart pending)
(Source: finance.yahoo.com)
XLV - Health Select Sector/SPDR:
www.tradingview.com
Its Top 3 Leader:
- JNJ: www.tradingview.com
- PFE: www.tradingview.com
- MRK: www.tradingview.com
(Source: finance.yahoo.com)
Also:
SPX - www.tradingview.com
AMD - www.tradingview.com
EBAY - www.tradingview.com
FB - www.tradingview.com
TWTR - www.tradingview.com
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- Follow us on Twitter: @4xForecaster
- See our live charts on TradingView.com: 4xForecaster
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Disclaimer: All of our analyses are for educational purpose only. The forecasts, analyses and opinions generated herein are not trading recommendations. We trust that you would do your own due diligence first, then seek professional advice from a licensed professional and enter the market at your own perils - David Alcindor - a.k.a.: 4xForecaster | 4xQuad, LLC.
XLK- ready for another climbThe faimous witch hat pattern (more useful in a downtrend:)) and ready for a breakout- not the hat- the price:) The chart is speaking for itself.
