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SPDR Select Sector Fund - Technology

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XLK trade ideas

If Technology Stocks Are Rolling Over... Market is in TroubleThe technology stocks have been the long time leader of this bull market. As the chart of XLK, the S+P Technology SPDR shows,technology stocks, like the bellwether FANG stock, including Apple have clearly rolled over on the charts, and are bearish in trend. Today the technology ETF is down yet another 2 % If the market's leading aggressive group, is in trouble, A simple question... Where is the leadership going to be found, to propel this market back to all time highs ..? Thoughts and prayer's to those suffering from the destruction of the California wildfires, as well as to the California bar room massacre victims, and their families. THE_UNWIND 11/12/18 945 AM NEW YORK
AMEX:XLKShort
by The_Unwind
XLK Elliott Wave Analysis Suggesting More UpsideHello Traders, In this Elliott Wave analysis, we will have a look at the Technology ETF. The ETF ended the cycle from 06/28/18 low in red wave 1 at the peak of 07/25/18 (74.26). The internals of red wave 1 unfolded as a 5 wave Elliott Wave impulsive structure. Where black wave ((i)) ended at 06/29/18 peak (70.08), black wave ((ii)) pullback at 07/02/18 (68.73). Followed by an extended black wave ((iii)), where the internals also unfolded in a 5 waves structure. Black wave ((iii)) ended at 07/13/2018 peak (72.72) and black wave ((iv)) pullback at 07/16/2018 (71.68) followed by black wave ((v)) of red wave 1 which ended at 07/25/18 peak (74.24). Below from that peak, the correction in red wave 2 ended at 07/30/18 low (70.30). The internals of red wave 2 unfolded as Elliott Wave Flat structure where it ended black wave ((a)) at 07/26/18 low (72.68), black wave ((b)) pullback at 07/26/18 peak (73.35) and black wave ((c)) of red wave 2 at 07/30/18 low (70.30). Up from there, it ended the cycle from 07/30/18 low at the peak of 08/09/18 (73.91) in black wave ((i)). Below from there, it is currently in the progress of correcting the cycle from 07/30/18 low in 3-7 or 11 swings before moving higher again. Near-term focus will be on the 100%-123.60% equal legs extreme area of 72.45-72.15 from 08/09/18 peak where we expect a reaction higher for new highs or at least a 3 wave’s bounce. We don’t like selling it and prefer more upside as long as the pivot at 68.28 low in our distribution system stays intact.
AMEX:XLKLong
by Elliottwave-Forecast
OPENING: XLK AUG/SEP 72/76 BEAR PUT DIAGONALBOT +1 DIAGONAL XLK 100 21 SEP 18/17 AUG 18 76/72 PUT @2.75 Paid 2.75 (debt is 69% of the width ) Breakeven @ expiry $73.58 -39 delta, .96 theta Max Loss : $275 Max Profit : $126 Notes: Opened a bearish trade here fade the recent rally and add some negative deltas to balance the portfolio. Following another great trade idea from NaughtyPines! (link below) Rationale: Any number of reasons a summer 'tech-wreck' could evolve: trade war, AAPL cutting mobile parts orders from suppliers, weakening Chinese economy etc ... The top holdings are; AAPL, MSFT, FB, GOOG, V, INTC, T, VZ, CSCO (not sure how V is a 'tech' name?) Some fundamentals on XLK : The forward PE is near 19, and P/B ratio over 5. There's almost no yield, so it's all about the estimated earnings growth , which if revised down should get punished. Based on a _DCF valuation model: XLK fair value around 75 by year end... based on 2019 earnings estimates and assuming 13.6% earnings growth . For the same deltas you could short 40 shares of XLK and borrow $2850 worth of stock, but would be charged the overnight borrowing rates as well.
AMEX:XLK
by dime