FINANCIAL ICEBERG
Always consider hidden risks
 TECHNICALS
Technology Sector ETFs: Melt Up Phase?
 September 07 2016 ​( From TradingView  )
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The Situation

The Technology Sector ETF is within a Melt Up Phase since June 27.

​​Here is some Technical Observations:​​​
​1) The XLK ETF is now at 15.3% from its previous bottom (Brexit) ​reached on
​June 27
 ​2016 ​​and SP500 Index (SPY ETF) is at 10.2%​​​​.
​​​2) On july 8 2016, as the the XLK ETF made only a tiny Breakout (See First Chart
​Below - Thick Blue Trendline
), the SPY ETF was ​under a ​Major Technical Breakout from
​a May 20 2015 earliest peak price.

3) The ​XLK ETF is catching up tremendously as the Major Breakout from the Resistance Trendline that started back from March 2 2015 finally happened yesterday. ​​(See first chart below - Grey Line - Ellipse)
​Bulls need from now to protect that Trendline (that become Support) at all costs.

As shown by the second chart below (Weekly Chart), we are now getting of the Resistance of a Major Uptrend Channel that started back since March 2009. The XLK ETF is making 20.8% of the Sector Allocation of the SPY ETF, it is dragging up the performance of the broad market. 

I decided to take a few Technology ETFs to show you how strong the Technical Melt Up Phase in some sub category of the broad ETF XLK:
​1) IGV ETF (iShares North American Tech-Software ETF): Break Out mode from rising wedge. Third Chart Below
2) SKYY ETF (​First Trust ISE Cloud Computing Index Fund): Near Resistance or Uptrend Channel. 4rth Chart
​3) SOCL ETF (Global X Social Media Index ETF): Runaway Gap near Resistance. 5th Chart Below
​4) SMH ETF (VanEck Vectors Semiconductor ETF): Within a Steep rising wedge. 6th Chart Below
5) ROBO ETF (​ROBO GLOBALROBOTICS & AUTOMATION INDEX ETF): At resistance. 7th Chart Below
6) PSCT ETF (​PowerShares S&P SmallCap Information Technology Portfolio): Breakout. 8th Chart Below.

We may look at other ETFs like FDN or ​​ARKQ or PSI or PSJ; they all in Melt Up Phase. As this speculative behavior may last longer, probably. One thing is sure is that the Industrials are phased out by the Tech...





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Technology Sector ETFs: Melt Up Phase? $XLK ​​​#trading ​​​#xlk ​​​#sp500 ​​​#technology #investing
Technology Sector Fund ETF XLK  ​( 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
Financialiceberg.com
Technology Sector Fund ETF XLK  ​( Weekly Candles )

IGV ETF
​( iShares North American Tech-Software ETF )
​​( Daily Candles )

SKYY ETF
​( First Trust ISE Cloud Computing Index Fund  )
​​( Daily Candles )

SOCL ETF
​( Global X Social Media Index ETF )
​​( Daily Candles )

SMH ETF
​( VanEck Vectors Semiconductor ETF )
​​( Daily Candles )

ROBO ETF
​( ROBO GLOBAL ROBOTICS &
​AUTOMATION INDEX ETF)
​​( Daily Candles )

PSCT ETF
​(PowerShares S&P SmallCap
​Information Technology Portfolio )
​​( Daily Candles )