Manic Technology Rally

BATS:XLK   SPDR Select Sector Fund - Technology
Currently only one of the eleven SPDR Sector funds is making a new all-time high. That’s the Technology sector (XLK). This is a huge bearish divergence!

From XLK’s October 2022 bottom it has formed an extended Elliott Impulse pattern.
The manic rally since its 10/26/23 bottom appears to be the final phase – Intermediate wave (5).

XLK could soon reach an important top, which could signal the next bear market for U.S. stocks.


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