FINANCIAL ICEBERG
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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