XLK DailyXLK is about 27% of SPY. The line in the sand is 162.94. Set an alert, if it drops below into the yellow box, it's a fast descent below. by UnknownUnicorn131012
XLK Weekly (rocky top, you're still home sweet home to me)From Covid low (red A) on 3/2020 to all time high on 12/27/2021 (green A), we retraced not quite .618 to green B at .588. Notice that XLK topped in December 2021 and led the general market (SPY) decline that happened in January 2022. We have since set a new high at green C at 181.46. This is 6.9 pct higher than prior high of 12/2021, but close enough to be concerned about a double top starting to form. We are also seeing the beginning formation of a broadening wedge. Most recent high of 181.46 failed to hold support at the 1/1 square Gann ray, and looks to be seeking prior pivots (circles 163.65, -9.8% off high, and 151.86, -16.3% off high). A 50% retrace off the high would put us at green D and at a low volume node around 145 - 147. Should we reach this level, sure enough we have broken both pivot supports and we are well on our way to a true double top base forming around the POC (yellow line). We don’t want to go there. Personally I’m expecting an intermediate bottom to form at the second pivot circle or at the green D around late December to early January, and then will take another look from there. Note that on the monthly chart we crossed the 12 month SMA in March, and it is angling upward, so we cannot say that “bear” word just yet. Nevertheless, I expect an eventual test of the 12 month line (which is very near that green D on this chart). by UnknownUnicorn131011
XLK Daily Chart UpdateLikely further selling, 7% off the most recent high of 181.46, to 168.76. This would take XLK to the lower part of the bullish forward Ichimoku cloud (not shown), and below the 50 day exponential moving average (not shown). There is still bull here, should it reverse back upward, since it would be inside the upward regression channel drawn from 10/13/22 low (black lines). Target in this scenario would be a new high around 185.12, or 1.27 Gartley extension. Another scenario would be a break of the 7 % line and the regression channel -- a further decline into a dangerous area with little support (yellow rectangle). In this case, we are looking at a 12% decline and a low of 159.56, and a reversal in the making off the regression channel. by UnknownUnicorn131012
Tech need some underperformanceTech need some underperformance outperforming SPY since last october Shortby Alphahunter070
2023 ETFs as of 7/11/2023This is just a simple comparison of sector ETFs after 6 months. Do with it as you wish. There is no skin of my nose. Really, go ahead. I'm just adding filler. For some reason my initial description was too short. by TradingviewM0
Tech charging higherAMEX:XLK is up nearly 40% year-to-date, with a decent recovery in the tech sector. NASDAQ:AAPL hit $3 trillion yesterday and other ETFs such as the JSE:SYG4IR are benefiting from the tech strength. AMEX:XLK is now near the previous all-time high, if there's enough strength from the holding companies, this level should be cleared easily. Keep moving.by Trend_Trader_JSE0
XLK SPDR Select (TECH) ... A little ahead of itself ??There is a confluence of two weekly harmonic patterns which may give this ETF a pause. This is weekly chart so give this time to develop and know you are going against the trend. Its probably best to confirm a reversal with your favorite momentum indicator. Not investment advice ... do your own due diligence. S. Shortby Steve666Updated 1
XLK Relative to SPY Looks like Overbought Only Sector that's holding right now is technology Sector, as XLK tech sector ETF is clearly out performing SPY by Alphahunter07Updated 4
XLKGrabbed some lotto puts at the close today for CPI tomorrow. Price has been unable to break above August highs even after AAPL & MSFT (50% of the index) reported earnings & the next 2 biggest components, AVGO & NVDA, had massive run ups the past few months. Nice hanging man candle last week as well. $2 risk here (stop above $152) for much higher reward imo.Shortby Essendy1
XLK- Rising Trend Channel [MID TERM]- XLK shows strong development within a rising trend channel in the medium long term. - The stock has broken a resistance level in the short term and given a positive signal for the short-term trading range. - XLK is testing resistance at 151. - This could give a negative reaction, but an upward breakthrough of 151 means a positive signal. - Volume tops and volume bottoms correspond badly with tops and bottoms in the price. - This weakens the rising trend and could be an early signal of a coming trend break. - RSI diverges negatively against the price, which indicates danger of a reaction downwards. - Overall assessed as technically neutral for the medium long term. *EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price *Chart Pattern: DT - Double Top | BEARISH | RED DB - Double Bottom | BULLISH | GREEN HNS - Head & Shoulder | BEARISH | RED REC - Rectangle | BLUE iHNS - inverse head & Shoulder | BULLISH | GREEN Verify it first and believe later. WavePoint ❤️ Longby wavepoint993
XLK WeeklyTech has had a good run lately, we are very near a 61.8% retrace to point D of Gartley, which is also a key fib resistance at 23.8% off the high point B. This area is also at the pivot point set on August 15, and shows some inability to surpass. Although the RSI(12) trend remains bullish, I'm expecting a pullback soon. Nothing serious at this point, but now is not the time to be loading long in tech. Waiting for good pullback. by UnknownUnicorn131015
XLK bullish, but at resistanceAny more upside movement in XLK should have bears rethinking their thesis.Longby freetosurf112
XLK Rate of changeIf XLF can't hold its Oct 22 low at 30 (and fib line .382) look for XLK to crater to just above its .618 fib line...by Effler0
XLK Update (daily chart)XLK is at a key area of resistance at Gann 145.11. It either breaks through this resistance next week to seek the Gartley 1.618 extension near the Gann line (151.77), or it repels downward to form a short term double top. I note that SOX index appears to be at a level of resistance, although it's ETF counterpart SMH appears in the clear above the Ichimoku cloud. I would watch the RSI (9) trend, which took a turn downward on Friday, although I'm discounting that observation a little since Friday was a weird day with options expiration. XLK is worth watching, since it is one of the few S&P sectors that is currently showing strength. by UnknownUnicorn131010
4hr bat pattern, looking for retrace to c leg4hr chart I see a bat type pattern, and im looking for a retrace to C leg of this pattern . Money flow has peaked on the 4hr time frame and there is a clear rejection from D leg, and currently (B) leg of this bat pattern is acting as resistances. I have puts 30 days out at the $138 strike Shortby moneyflow_traderUpdated 5
XLK (Aapl and Msft)135 is tough so I think they'll hold it until the CPI tuesday... if we break below 135 that will be a double top to close gap at 124.73 Weekly selling pressure increased with a bearish engulfing finish.. This will have a huge impact on Apple and MSFT.. and if the 2 biggest stocks on the market dump 🍿 Shortby ContraryTrader221
XLK (Msft and Apple)Falling wedge here... you can see it on also on Apple and msft.. The funny thing about this situation is if you remove the trendlines and drop down to a 15min time frame you'll see a bearish H&S.. What this means is if we gap up you have a falling wedge, if we gap down you have a H&S.. If this does breakout Apple will test 157 Msft 164 Longby ContraryTraderUpdated 222
XLK (MSFT and aapl) Retest Fib next week then the next leg higher for Big tech.. double bottom breakoutLongby ContraryTrader5
XLK (Msft and Aapl)Can't break over resistance here. Pullback to 135 is coming. Look at the price action of last 2 weeks and look at MSFT and Apple chart, Same thing. MACD just crossed bearish, last 3 times this has happen XLK has had a nasty sell off. RSI is rolling over If we bounce at 135 and rally we will see apple at 164 and MSFT at 300. If we break below 135 ... things will get ugly I highlighted the false breakouts with the reason whyShortby ContraryTrader9
XLL Continues to be sidewaysXLL Continues to be sideways Let's watch this on shorter time frame, 135 is area of confluencby Alphahunter07112
$XLK Looking StrongI bought this last week in my longer term investment account. Tech has been strong since early January and has suffered in this bear market. I've added again today to bring this up to 1/2 size position. See notes on chart. $SOXX has a similar looking chart and I opened a 1/4 size position in that today in the same account. Ideas, not investing / trading advice.Longby jaxdog221
$XLK short term pullback to previous resistance$XLK short term pullback to previous resistance, interesting dynamic on short time frameby Alphahunter07111
XLK Tech sector ETF, broke the 200 day moving Average downtrend,XLK Tech sector ETF, broke the 200 day moving Average downtrend, does this marks the end of the downtrend, and start of a new Bull run? To answer this question we will have to see how this trends in weeks ahead Tech growth is still slowing Higher multiples are difficult to justify by Alphahunter072