It appears a head-and-shoulders pattern is beginning to form on the XLK. If the right shoulder fully forms, look out below!
Note
More apparent on the daily chart. IF the right shoulder forms, it looks like the drop will not occur till the end of this week or next week. Be wary and do some upkeep on your hedges, remember the neighbors are nice but they don't need to see and hear everything.Note
Watch out! Down she goes. I have a vertical put spread on it gonna ride this down to the $127-128 level.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.