FINANCIAL ICEBERG
Always consider hidden risks
 TECHNICALS
SP500 Technology Bull% Index: The Apple Experiment - AAPL ?
 October 28 ​( From Stockcharts  )
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The Situation

​​​The main technical indicators like the moving average of the Bullish
​Percentage ​Index ​of the Technology Sector are turning almost near
​the more bullish conviction ​since ​August 24 2015 as shown by
​the chart below.


That % indicator on Technology Stocks 7 DMA is at a level of 73.94%
​treshold last seen in April 2015 ( spot index now at 79.73%);  it is
​getting into ​the ​overbought level as history suggest. See chart below.

​​The Information Technology weighting within the SPDR SP500 ETF
​is ​20.96% and Apple Shares are 3.71%. Not Surprise to see that continued rise in Sentiment on the Technology Sector as Apple Shares are in an up move since since October 1 2015. ( Chart Below Thick Black Line ).


Observe the correlation between the XLK ETF and Apple Shares; all previous peak in the Technology Sector have been within a high correlation zone as you may see​ in the chart below, bottom panel - ellipses...

Also, the XLK Sector broke on the upside the on October 22 at 42.50​ the resistance trendline that started back on October 15 2014. Bulls need to protect that Trendline - now at 42.59 ( Bottom Chart - Blue TrendLine - Ellipse ).






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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 )
XLK ETF ( Middle Panel )​​

Apple Shares Correlation with XLK ( Bottom Panel )​
Financialiceberg.com
Financialiceberg.com
XLK ETF ( Daily Candles - Right Scale )​​
Apple Shares - AAPL ( Grey Area Line  - Left Scale )​