Technology Sector Threatening A Break Out

There’s been quite a number of sharp moves within this sideways range recently, but once again we have the Technology Sector ETF $XLK back to knocking on multi-month resistance.

xlk_12_7

We wrote about this same possible rotation trade just two weeks ago, but we never saw the confirming price action to follow up the idea.

Going forward, if you’re looking for new long ideas to keep this rally alive, keep an eye on the recent 48.25 highs, and some of the individual names in this sector.

They include things like:

  • Apple
  • Micrsofot
  • Facebook
  • ATT
  • Alphabet

We’ll have more detailed market analysis in our market recap video after the bell.

Thanks for reading and good luck out there.

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Evan Medeiros

Evan is the founder of the Trade Risk. With 20+ years of coding experience and a B.S. in computer science, Evan brings a systematic discipline to investing in the stock market.

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