The XLK Technology Sector SPDR is making fresh new 2009 price highs above the prior ‘range resistance’ boundary area, and that is a bullish sign for the broader market. Let’s take a quick look at the daily and weekly chart of the XLK.
Let’s take a look at the XLK Technology Sector ETF, as it’s caught between two key boundaries and is showing an interesting pattern. Let’s see it:
What we may have missed recently is the weakness in technology related companies over the last week which was particularly punishing for most tech companies that started roughly at the same time DELL missed earnings and gapped lower. Let’s look at the XLK Technology SPDR and Google for some insights. XLK Technology Sector SPDR Daily:…