Technology – kaboom

watch this ratio as a key to provide support and resistance for technology names …

yes, technology and specifically the NASDAQ have been ROLLING. that being said, do see some resistance ahead and especially at the level indicated by the XLK / XLP ratio analysis. (technology/ staples) the level shown below has 6 mathematical derived levels all really really close to each other.

“should” provide resistance to this amazing run … that being said, appears like NOTHING can stop this run and this time it’s different and just buy buy buy as it’s all good …

OBTW, glad the REPO and sovereign debt crisis magically just went away …

one last, anyone else find it interesting that, w/ the NASDAQ soaring to new highs the ratio of the XLK/XLP is “barely” at the 50% level. if we had broad participation across the board wouldn’t this (the ratio) be making new highs?

Bart

Author: BART

BART is a CMT and an expert a "advanced" pattern recognition used w/in the intermarket analysis discipline. He's also an accomplished Business Development Executive providing solutions to a myriad of business markets.

Leave a Reply