I've been targetting XLK as a short candidate. It's 35% MSFT and AAPL at the top, with a host of other old-school tech giants dominating its members - very limited in momentum, growth names like cloud, Saas, Internet which would add risk to a short in this market.
Also,I like the 20% semiconductor exposure. Semis have obviously been on fire as everyone was caught off-sides trying to short their weak fundamentals, but INTC's report and overall exhaustion puts semis as a prime sector to short.
A break of the XLK uptrend would be confirmed by the two simple momentum indicators I track - MACD (with 5-15-5 setting) and DMI.