FINANCIAL ICEBERG
Always consider hidden risks
 TECHNICALS
Technology Sector ETF (XLK): Breakout?
 July 21 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 19.7% from its bottom reached on
February 11 ​2016 ​​and SP500 Index (SPY ETF) is at 19.8%​​​​.
​But since the bottom on June 27, XLK did 11.0% and the Mighty
SPY ETF only +9.2%...
​​

​​​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.

4) On a relative basis (the ratio of XLK ETF ​to the Mighty SPY ETF), XLK is outperforming since July 8 2016. ​​(See second chart below - Daily Candles)​

5) On a relative basis (the ratio of XLK ETF ​to SPY ETF), we are finally back above the 200 DMA (Day Moving Average) after a strong rejection at the end of May 2016.  ​​(See second chart below - Green Line)​

So Bulls need also to protect that 200 DMA on a relative basis.

As most of us were expecting the Financial Sector to Breakout, it was a surprise that finally it was ​​t
he ​Technology Sector ETF XLK.






​​​​​
Technology Sector ETF (XLK): Breakout? $SPY, $XLK, $AAPL ​​​#tradind ​​​#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