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One of the noteworthy developments in recent days has been the move in tech stocks.  The sector got a strong boost Friday after billionaire investor Warren Buffett revealed that he bought 75 million Apple (AAPL) shares during the first quarter, which added to the conglomerate’s already massive stake in the tech giant.  The Technology Select Sector SPDR ETF (XLK) jumped 1.9 percent, bringing its YTD gains to 5.7 percent, outperformed the S&P.  Now the question is whether the rally has more legs?  Below is an update look at a trade in XLK.

The graphic below is from our “U.S. Market Trading Map”, show the near-term technical bias and trading ranges.  As shown, the underlying is in a short-term bullish trend when the price bars are painted in green.  The underlying is in a short-term bearish trend when the price bars are painted in red. 

Chart 1.1 – Technology Select Sector SPDR ETF (weekly)

Our “U.S. Market Trading Map” painted XLK bars in green (buy) – see area ‘A’ in the chart.  The first dominant feature on the chart is the rising trend line starting in early 2016.  The second dominant feature of the chart is the downward trend since mid-March 2018.  The correction…Click here to read more.

You see, our trend-following system is very unique as it attempts to pick turns before others see them. Timing is everything and if you’ve applied our system correctly, you should have made a killing in any markets.

 

This is just an example of many successful trades that our member had enjoyed recently. After all, aren’t you glad you subscribed?

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