The tech sectors sell off we experienced over the past month looks to be coming to a close
- In multiple tech giant ETFS (XLK and SMH) are seeing breakthoughs of the past months violent sell off
- comparing XLK/SPY we see that the recent downtrend has broken
- The pair setup had reached level of support which it hit this time last year
- Since September is typically a rough month we should not expect any big rallies during the next month or so.
- Do not expect any rally to start until atleast October possibly early November
- Anticipate market trades flat overall for next month or so.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.