US tech ETF · Open buy, week 7
VGT gains 1.7% to a new all-time high as the weekly MACD turns back up
Our view last week
The breakout that was missing last week has arrived: VGT, the Vanguard ETF on US tech stocks, gains 3.2% and closes less than 0.5% below its all-time high, with bullish price action free of warning signs and buyers in the majority for 5 weeks. VGT technical analysis, however, shows a fading push: the strength of the buy signal is slipping and ADX has been easing for 6 weeks. For swing trading, the signal is in week 6, with the trade up 2.95% since it opened.
This week's summary
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.
IQS Phase
68
in tension
Signal Strength
12
low · fading
Sizing
MINIMUM
Ranking
#93 / 93
US stocks in progress
Trade P&L %
+4.70%
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 93rd among the 93 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 +1.80% · monthly +8.83%
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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