2023 ETFs as of 7/11/2023This is just a simple comparison of sector ETFs after 6 months. Do with it as you wish. There is no skin of my nose. Really, go ahead. I'm just adding filler. For some reason my initial description was too short.
XLK trade ideas
Tech charging higherAMEX:XLK is up nearly 40% year-to-date, with a decent recovery in the tech sector. NASDAQ:AAPL hit $3 trillion yesterday and other ETFs such as the JSE:SYG4IR are benefiting from the tech strength.
AMEX:XLK is now near the previous all-time high, if there's enough strength from the holding companies, this level should be cleared easily.
Keep moving.
XLK SPDR Select (TECH) ... A little ahead of itself ??There is a confluence of two weekly harmonic patterns which may give this ETF a pause.
This is weekly chart so give this time to develop and know you are going against the trend.
Its probably best to confirm a reversal with your favorite momentum indicator.
Not investment advice ... do your own due diligence.
S.
XLK Relative to SPY Looks like Overbought Only Sector that's holding right now is technology Sector, as XLK tech sector ETF is clearly out performing SPY
XLKGrabbed some lotto puts at the close today for CPI tomorrow. Price has been unable to break above August highs even after AAPL & MSFT (50% of the index) reported earnings & the next 2 biggest components, AVGO & NVDA, had massive run ups the past few months. Nice hanging man candle last week as well. $2 risk here (stop above $152) for much higher reward imo.
XLK- Rising Trend Channel [MID TERM]- XLK shows strong development within a rising trend channel in the medium long term.
- The stock has broken a resistance level in the short term and given a positive signal for the short-term trading range.
- XLK is testing resistance at 151.
- This could give a negative reaction, but an upward breakthrough of 151 means a positive signal.
- Volume tops and volume bottoms correspond badly with tops and bottoms in the price.
- This weakens the rising trend and could be an early signal of a coming trend break.
- RSI diverges negatively against the price, which indicates danger of a reaction downwards.
- Overall assessed as technically neutral for the medium long term.
*EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price
*Chart Pattern:
DT - Double Top | BEARISH | RED
DB - Double Bottom | BULLISH | GREEN
HNS - Head & Shoulder | BEARISH | RED
REC - Rectangle | BLUE
iHNS - inverse head & Shoulder | BULLISH | GREEN
Verify it first and believe later.
WavePoint ❤️
XLK WeeklyTech has had a good run lately, we are very near a 61.8% retrace to point D of Gartley, which is also a key fib resistance at 23.8% off the high point B. This area is also at the pivot point set on August 15, and shows some inability to surpass. Although the RSI(12) trend remains bullish, I'm expecting a pullback soon. Nothing serious at this point, but now is not the time to be loading long in tech. Waiting for good pullback.
XLK bullish, but at resistanceAny more upside movement in XLK should have bears rethinking their thesis.
XLK Rate of changeIf XLF can't hold its Oct 22 low at 30 (and fib line .382) look for XLK to crater to just above its .618 fib line...
XLK Update (daily chart)XLK is at a key area of resistance at Gann 145.11. It either breaks through this resistance next week to seek the Gartley 1.618 extension near the Gann line (151.77), or it repels downward to form a short term double top.
I note that SOX index appears to be at a level of resistance, although it's ETF counterpart SMH appears in the clear above the Ichimoku cloud. I would watch the RSI (9) trend, which took a turn downward on Friday, although I'm discounting that observation a little since Friday was a weird day with options expiration.
XLK is worth watching, since it is one of the few S&P sectors that is currently showing strength.
4hr bat pattern, looking for retrace to c leg4hr chart I see a bat type pattern, and im looking for a retrace to C leg of this pattern . Money flow has peaked on the 4hr time frame and there is a clear rejection from D leg, and currently (B) leg of this bat pattern is acting as resistances. I have puts 30 days out at the $138 strike
XLK (Aapl and Msft)135 is tough so I think they'll hold it until the CPI tuesday... if we break below 135 that will be a double top to close gap at 124.73
Weekly selling pressure increased with a bearish engulfing finish..
This will have a huge impact on Apple and MSFT.. and if the 2 biggest stocks on the market dump 🍿
XLK (Msft and Apple)Falling wedge here... you can see it on also on Apple and msft..
The funny thing about this situation is if you remove the trendlines and drop down to a 15min time frame you'll see a bearish H&S..
What this means is if we gap up you have a falling wedge, if we gap down you have a H&S..
If this does breakout Apple will test 157
Msft 164
XLK (MSFT and aapl) Retest Fib next week then the next leg higher for Big tech.. double bottom breakout
XLK (Msft and Aapl)Can't break over resistance here. Pullback to 135 is coming. Look at the price action of last 2 weeks and look at MSFT and Apple chart, Same thing.
MACD just crossed bearish, last 3 times this has happen XLK has had a nasty sell off.
RSI is rolling over
If we bounce at 135 and rally we will see apple at 164 and MSFT at 300.
If we break below 135 ... things will get ugly
I highlighted the false breakouts with the reason why
XLL Continues to be sidewaysXLL Continues to be sideways
Let's watch this on shorter time frame, 135 is area of confluenc
$XLK Looking StrongI bought this last week in my longer term investment account. Tech has been strong since early January and has suffered in this bear market. I've added again today to bring this up to 1/2 size position. See notes on chart. $SOXX has a similar looking chart and I opened a 1/4 size position in that today in the same account. Ideas, not investing / trading advice.
$XLK short term pullback to previous resistance$XLK short term pullback to previous resistance, interesting dynamic on short time frame
XLK Tech sector ETF, broke the 200 day moving Average downtrend,XLK Tech sector ETF, broke the 200 day moving Average downtrend, does this marks the end of the downtrend, and start of a new Bull run?
To answer this question we will have to see how this trends in weeks ahead
Tech growth is still slowing
Higher multiples are difficult to justify
XLK (Msft and Apple)Seen the gap at 134 but I thought they would save it for MSFT earnings.
.382 fib is a reversal or breakout area. I'm leaning towards rejection
XLK (Msft and apple)Decided to chart this sector as it is the biggest sector in the spy and its also a big reason we haven't went down yet..
Showing a rising wedge similar to Spy and QQQ.. looking for a correction to kick off that will greatly effect the 2 stocks mentioned above..
Target 125
ROTATION FROM 'GROWTH' TO 'DEFENSIVE' OVER LAST 10 DAYSCHART DISPLAYS LAST 30 DAYS
Utilities ($XLU) outperforming the broader market as represented by ($SPY) and growth oriented, tech based, sub-sector ($XLK) over the last 30 days.
This has a correlation with an increased 'potential' for instances of heightened, near term (2 to 4 weeks) market volatility.
During the recent selloff we can see that the 'bids' did not push the broader market as represented by ($SPY) or the S&P 500 tech sector ($XLK) back over its pre-selloff top. On the other hand, the market did buy the utilities (XLU) back up over its respective, pre-selloff top. (see yellow horizontal lines)
So utilities stay bid while tech and the broader market begin to falter. In my opinion this is what a rotation out of 'growth' ($XLK) from the last 6 weeks and into 'defensives'($XLU) looks like from a price structure perspective. I would interpret this as an expression of 'risk off' market sentiment going into 2023. (NOT FINANCIAL ADVICE)
XLK target 122.07 on 12/22/22Could not break out of down channel at the 61.8% retrace. Considerable resistance overhead and weakening RSI. Look for target of 122.07 on 12/22/22.
