Michael_Macdonald-XATSUK

US Technology Sector showing signs of pullback

AMEX:XLK   SELECT SECTOR SPDR TRUST
Risk/reward turning lower in the Technology sector as monthly charts show early signs of distribution.
Momentum studies are unwinding overbought areas, suggesting increased profit-taking risks in the coming weeks.

A close below the USD45.86 low of September would add extra weight and open up the USD44.00~ break level.

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