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SP500 Technology Bull% Index: The Apple Experiment - AAPL ?
August 6 ( From Stockcharts )
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The main technical indicators like the moving average of the Bullish
Percentage Index of the Technology Sector are turning with the least
bullish conviction since October 29 2014 as shown by the chart below.
That % indicator on Technology Stocks 7 DMA is at a level of 43.25%
treshold last seen in October 2014 ( spot index now at 48.61%);
it is getting into the oversold level as history suggest. See chart below.
The Information Technology weighting within the SPDR SP500 ETF
is 16.10% and Apple Shares are 3.57%. Not Surprise to see that continued fall in Sentiment on the Technology Sector as Apple Shares are in a down move since since July 22 2015. ( Bottom Chart Thick Black Line ).
Observe the divergence between the sentiment for the Technology Sector since the end of June 2015: XLK ETF higher in price til mid-July as sentiment crashed: a divergence indeed as you may see in the chart below...
Also, the XLK Sector broke on the upside the 50 DMA ( Day Moving Average ) on August 5 at 42.47, another Bullish Reversal Sign Indeed as shown by the Botttom Chart Below ( Bottom Chart - Blue Line ).
SP500 Technology Bull% Index: The Apple Experiment - AAPL ? $SPY, $XLK, $AAPL #aapl #xlk #sp500
SP500 Technology Bullish % Index ( Top Panel - Dots - Red Line )
7 DMA ( Blue Line )
SP500 Index ( Middle - Panel Black Line )
XLK ETF ( Bottom Panel )
Apple Shares ( Bottom Panel )