Summary
- The Technology Select Sector SPDR Fund (XLK) has been flattening out after a long advance. It wouldn’t be the worst thing if tech took a breather after a huge advance.
- Unlike XLK, the Financial Select Sector SPDR Fund (XLF) recently broke out on a gap-up move. Then it retested the breakout… and the 20-day EMA… and held.
- Financial stocks typically falter when economic and credit concerns pile up. But they aren’t.
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By Mike Larson
“What if we lose tech?” I see a version of that question all the time. But if technology stocks falter… and stocks in the sector I’m going to talk about today pick up the baton… it
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