For the third time in XLK price history we have had a crossover of the 50 weekly MA & 100 Weekly MA.
the previous 2 times coming out of the Dot com crash and GFC when this happened it resulted in a quick multi week double digit rally.
Will this rally happened again?
XLK could rally while other aspects of the market rollover. Why? simply the cash moats of some of the Mega Cap companies insulate them more from rising yields.
Im expecting a bounce off the support level.
the previous 2 times coming out of the Dot com crash and GFC when this happened it resulted in a quick multi week double digit rally.
Will this rally happened again?
XLK could rally while other aspects of the market rollover. Why? simply the cash moats of some of the Mega Cap companies insulate them more from rising yields.
Im expecting a bounce off the support level.