FINANCIAL ICEBERG
Always consider hidden risks
​
 TECHNICALS
SP500 Technology ETF (XLK): The Apple Experiment?
 May 09 2016 ​( From TradingView  )
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The Situation

​

The Technology Sector ETF is at a Major Technical Crossroads.

​​Here is some Technical Observations:​​​
​1) The XLK ETF is now at 10.4% from its bottom reached on 
​February ​11 ​2016 ​​and SP500 Index (SPY ETF) is at only 13.6%​​​​. 
​
​​​2) The XLK ETF from highest peak price (reached on April 4 2016) to 
​the ​lowest ​price yet (reached on ​February 11 2016) was 5.5% and only 
​3.8% for ​the Mighty SPY ETF. ​​​​

3) The ​XLK ETF is testing the 200 DMA (Day Moving Average) zone. ​​(See first chart below - Green Line - Ellipse)​ 
​
4) On a relative basis (the ratio of XLK ETF ​to the Mighty SPY ETF), we are at a Major Support Trendline that started back since July 23 2013. ​​(See second chart below - Red Trendline - Ellipse)​

5) On a relative basis (the ratio of XLK ETF ​to Apple Shares Price), we are at a Resistance Trendline from an Uptrend Channel that started back since July 21 2015. ​​(See third chart below - Uptrend Channel - Ellipse)​

6) But the real interesting part is that at a time XLK is testing all those Technical levels, Apple Shares Price are at a Major Support Trendline that started back since the flash crash of August 24 2015.
​(See fourth chart below - Red Trendline - Ellipse)​

​​​​​​​​The Information Technology weighting within the SPDR SP500 ETF ​is ​19.49%. Apple Shares are 2.75% of the SPY ETF but a heavy 12.90% of the XLK ETF. Not Surprise to see that weakness since April 5 2016 on the Technology Sector as Apple Shares are in a down move and dragging that ETF tremendously.

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






​​​​​


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 


Daily RATIO ( Candles )
Technology Sector Fund ETF XLK ​ 
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



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  ​( 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