FINANCIAL ICEBERG
Always consider hidden risks
 TECHNICALS
SP500 Technology ETF (XLK): The Apple Experiment?
 May 15 2017 ​( From TradingView  )
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The Technology Sector ETF is at a Major Technical Crossroads.

​​Here is some Technical Observations:​​​
​1) The XLK ETF is now at +21.3% from its bottom reached near 
​US Election (November 14 ​2016) ​​and SP500 Index (SPY ETF) is at only
​+14.6%​​​​ (November 4) and Apple Shares are at +49.9%​ (November 14).

​​​2) The XLK ETF is at +11.9% above its 200 DMA (Day Moving Average),
​​the Mighty SPY ETF at +6.2% and Apple Shares at +27.2%.
​ 

3) The ​XLK ETF broke the Resistance of a Major Daily Rising Wedge
​that Bulls need to protect at all costs​. ​​ 
​(See first chart below - Blue Trendlines)​

4) On a relative basis (the ratio of XLK ETF ​to the Mighty SPY ETF), we are at a Major Weekly Resistance Trendline that started back since January 2004.  (See second chart below - Grey Trendline)​

5) On a relative basis (the ratio of XLK ETF ​to Apple Shares Price), we are at a Daily Support Trendline from a Falling Wedge that started back since September 16 2016. ​(See third chart below - Falling Wedge - Grey Trendlines)​

6) But the real interesting part is that at a time XLK is testing all those Technical levels, Apple Shares Price broke a Major Weekly Resistance Trendline that started back since May 2016 that Bulls need to protect at all costs from now on.. ​(See fourth chart below - Red Trendline - Ellipse)​

​​​​​​​​The Technology Sector weighting within the SPDR SP500 ETF ​is ​22.9%. Apple Shares are 3.93% of the SPY ETF but a heavy 15.56% of the XLK ETF. There is a strong concentration within the XLK ETF: ​as only a few big names makes this index (top 5 AAPL, MSFT, FB, GOOG and T makes 47.88% of the weight on the XLK) compare to only +12.09% for the SPY ETF. That concentration within the index could bring eventually more volatility down Not Surprise to see that strength since February 1 2017 on the Technology Sector as Apple Shares are in a strong up move and lifting that ETF tremendously.

​​The ​Technology Sector ETF XLK is obviously at Technical Crossroads as the Apple Experiment battle is on.






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SP500 Technology ETF (XLK): The Apple Experiment?  $SPY, $XLK, $AAPL ​​​#aapl ​​​#xlk ​​​#sp500
Technology Sector Fund ETF XLK  ​( Daiy Candles )
​20 DMA ( Day Moving Average - Yellow Line )​
50 DMA ( Day Moving Average - Red Line )​​
200 DMA ( Day Moving Average - Green Line )
Financialiceberg.com
Weekly RATIO ( Candles )
Technology Sector Fund ETF XLK ​
over​
​SP500 Index ​( SPY ETF )
4 WMA ( Weekly Moving Average - Yellow Line )​
12 WMA ( Weekly Moving Average - Red Line )​​
52 WMA ( Weekly Moving Average - Green Line )​​

Financialiceberg.com
Daily RATIO ( Candles )
Technology Sector Fund ETF XLK ​
over​
​Apple Shares
20 DMA ( Day Moving Average - Yellow Line )​
50 DMA ( Day Moving Average - Red Line )​​
200 DMA ( Day Moving Average - Green Line )​​

Financialiceberg.com
Apple Shares  ​( Weekly Candles )
​4 WMA ( Weekly Moving Average - Yellow Line )​
12 WMA ( Weekly Moving Average - Red Line )​​
52 WMA ( Weekly Moving Average - Green Line )​​

Financialiceberg.com