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SP SmallCap Technology ETF (PSCT): Runaway Train?
September 26 2016 ( From TradingView )
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...
(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 )
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 )
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 )
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 )
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 )
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