Descending Triangle Break in $XLK Sends $SPY $QQQ Lower

jfsrevg
03-28

$Technology Select Sector SPDR Fund(XLK)$ — Descending triangle finally breakdown, triggers YTD breakdowns in $SPDR S&P 500 ETF Trust(SPY)$ and $Invesco QQQ(QQQ)$

First key support level for XLK is 2 x ADR% away at $128. Any capitulation driven selloff could push XLK into that level within just a session, setting up a potential short-term bounce as early as next mid-week.

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