US tech ETF · open buy, week 8
VGT slips 0.3% as a fresh all-time high fails to hold into the weekly close
Our view last week
VGT, the Vanguard ETF on US tech stocks, gains 1.7% and sets a new all-time high, confirmed by the weekly close. A week ago ADX had been easing for 6 weeks and the MACD sat below its signal line: now the MACD is back above it and ADX has stopped falling. VGT technical analysis also shows a weekly RSI above 70 and price action pressed against the highs, with little room to run. For swing trading, this stays one of the weekly buy signals still open, up 4.7% since it started.
This week's summary
VGT, the Vanguard technology ETF, printed a new all-time high during the week, but this time the close did not confirm it: the week ends 0.3% lower, closing in the lower part of its range. A week ago the record had been validated and the weekly RSI sat above 70; now it is just below. VGT technical analysis still shows the MACD above its signal line and 4 higher lows on the daily chart. For swing trading it stays among the weekly buy signals still open, up 4.4% since it started.
IQS Phase
62
ordinary
Signal Strength
12
low · fading
Sizing
MINIMUM
Ranking
#92 / 92
US stocks in progress
Trade P&L %
+4.42%
from signal to date, no stop loss
VGT Technology US weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 92nd among the 92 Longs already running for US stocks in our ranking, with a signal strength of 12 out of 100.
Sector context
SectorETF Settoriale
Benchmark ETFXLK
Sector regimein strong phase
Performanceweekly -0.52% · monthly +5.81%
VGT belongs to the etf settoriale sector (reference ETF XLK). The sector is classified in strong phase according to our weekly reading.
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