Bearish Breakout on the NASDAQ! Price has consolidating in a narrow range right now, just above key support. This is important as a break below the 14,000 support level could indicate more downside. Here are the key levels to keep an eye on.
The SPDR Innovative Technology ETF has recently broken out of a bullish edge pattern. It also displayed bullish RSI divergence from the price action going back to August.
My price target for this ETF is around $117 which is just below the 2.61 Fibonacci Extension level.
The largest holdings of this ETF include ROKU, SNAP, SHOP, TER, & LRCX. Happy hunting.
