Michael_Macdonald-XATSUK

US Technology Sector showing signs of pullback

AMEX:XLK   SPDR Select Sector Fund - Technology
Risk/reward turning lower in the Technology sector as monthly charts show early signs of distribution.
Momentum studies are unwinding overbought areas, suggesting increased profit-taking risks in the coming weeks.

A close below the USD45.86 low of September would add extra weight and open up the USD44.00~ break level.