US tech ETF: strength fading near the highs
XLK gains 2.9%, but the rally stalls below the 188 area resistance
US tech ETF: strength fading near the highs
Our view last week
XLK is in week 11 of a buy signal, and our most advanced model's coverage is now complete: all 3 targets have been hit and the trade is running at +17% since entry. The weekly structure stays bullish, though signal strength has cooled to medium levels. The stop now trails the Inversion Point, protecting the gain built up so far.
This week's summary
Weekly technical analysis. XLK gains ground again, +2.9%, with buyers back in control of the tape at 94% after a week of heavy net selling. But the rally stalls right below the 7-day high, in the 188 area, turned back by a clean rejection. Beneath the surface momentum has been fading for three weeks: the push is losing steam even as the trade adds ground, now at +20.4% since entry versus +17% a week ago.
IQS Phase
66
in tension
Signal Strength
55
medium
Sizing
STANDARD
Ranking
#61 / 129
US stocks in progress
Trade P&L %
+20.36%
from signal to today
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