FINANCIAL ICEBERG
Always consider hidden risks
 TECHNICALS
SP SmallCap Technology ETF (PSCT): Runaway Train?
 September 26 2016 ​( From TradingView  )
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The PowerShares S&P SmallCap Information Technology Portfolio 
(PSCT ETF) is like a Runaway Train as it did outperformed a lot of
broad stocks indices ​as we will discover with the comments and
​charts below.​​


​​Here is some Technical Observations:

​​1) After breaking out on August 9 2016 from a Major Resistance Trendline
​that started back since March 23 2015
(See First Chart Below - Grey Trendline)
​​​​​​PSCT ETF perfomed very well within a Daily Rising Channel (See First
Chart Below - Blue Trendlines)​
Near Daily overbought zone according to the Bollinger Bands...​

​​2) PSCT ETF is testing on a Monthly Basis a Major Resistance Trendline that started since May 2011.
(See Second Chart Below - Blue Trendline - Ellipse)​

​3) The PSCT ETF is now at 21.6% from its bottom reached on June 27 ​2016 (post Brexit low) ​​and SP500 Index (SPY ETF) is at only 9.1%​​​​, ​XLK ETF is up +15.9% since June 27 and QQQ ETF up +16.7%.

​4
) The ​PSCT ETF is at +15.8% above the 200 DMA (Day Moving Average) zone. ​​(See first chart below - Green Line - Ellipse)​  ​and SPY ETF is only at +5.1% and XLK ETF a tiny +9.5% above the 200 DMA and QQQ ETF at +8.6%.

5) On a relative basis (the ratio of PSCT ETF ​to the Mighty SPY ETF), we broke on July 27 2016 a Resistance Trendline that started back since March 25 2015 ​​(See third chart below - Grey Trendline)​
We are also within a steep rising wedge. ​​(See third chart below - Blue Trendlines)​

6) On a relative basis (the ratio of PSCT ETF ​to XLK ETF), we broke a Daily Resistance Trendline that started back since October 15 2013. ​​(See fourth chart below - Grey Trendline)​

​​​​​​​​7) On a relative basis (the ratio of PSCT ETF ​to the Mighty QQQ ETF), we broke on February 19 2016 a Major Resistance Trendline that started back since April 6 2011. ​​(See fifth chart below - Grey Trendline)
​We are also within a steep rising wedge. ​​(See fith chart below - Blue Trendlines)​

​​
The S&P SmallCap Information Technology Portfolio performance is outstanding to say the least and acting for now like a Runaway Train...

​​What I wonder is are we into a final ultra speculative stock market phase for those tech shares or that performance comes from a real Technological Breakthrough...









​​​​​
SP SmallCap Technology ETF (PSCT): Runaway Train? $SPY, $XLK  ​​​#stocks ​​​#smallcap ​​​#sp500 ​​​#technology ​​​#risk
PowerShares S&P SmallCap Information Technology Portfolio  ETF PSCT  ​( Daily Candles )
​20 DMA ( Day Moving Average - Yellow Line )​
50 DMA ( Day Moving Average - Red Line )​​
200 DMA ( Day Moving Average - Green Line )

Financialiceberg.com
Daily RATIO ( Candles )
PowerShares S&P SmallCap Information Technology Portfolio ETF PSCT ​
over​
​SP500 Index ​( SPY ETF )
20 DMA ( Day Moving Average - Yellow Line )​
50 DMA ( Day Moving Average - Red Line )​​
200 DMA ( Day Moving Average - Green Line )​​

Financialiceberg.com
Financialiceberg.com
Financialiceberg.com
PowerShares S&P SmallCap Information Technology Portfolio  ETF PSCT  ​( Monthly Candles )
​20 DMA ( Day Moving Average - Yellow Line )​
50 DMA ( Day Moving Average - Red Line )​​
200 DMA ( Day Moving Average - Green Line )

Daily RATIO ( Candles )
PowerShares S&P SmallCap Information Technology Portfolio ETF PSCT ​
over​
​Technonology Sector ​( XLK ETF )
20 DMA ( Day Moving Average - Yellow Line )​
50 DMA ( Day Moving Average - Red Line )​​
200 DMA ( Day Moving Average - Green Line )​​

Daily RATIO ( Candles )
PowerShares S&P SmallCap Information Technology Portfolio ETF PSCT ​
over​
​NASDAQ 100 Index ​( QQQ ETF )
20 DMA ( Day Moving Average - Yellow Line )​
50 DMA ( Day Moving Average - Red Line )​​
200 DMA ( Day Moving Average - Green Line )​​

Financialiceberg.com