Wednesday, September 27, 2017

Them's The Breaks: Technology ETF XLK Also Looses Support

I wrote earlier how QQQ seemed to have broken down from an ascending bearish wedge and it appears that Technology ETF XLK has done the same thing. Support right now looks pretty good $56.50 but it's anyone's guess what happens from here. Lots of long-term resistance levels are being met across the market so perhaps this is the beginning of a healthy retracement.