The last indicator above is of
Technology Select Sector SPDR
(XLK) over S&P Equal Weight ETF. On Monday, there was a fair share of positive news coming out of technology companies that buoyed equity markets. The pair, pictured above, highlights the relative lack of importance technology has been lately.
Technology, due in large part to Apple, as seen in the table below, lagged the broader markets as equities raced to new highs. This does not say anything about future price action, but merely cautions that a strong technology sector may not keep markets from pulling back in the near future.Source: etfdb.com At the time of publication the author held no positions in any of the stocks mentioned. Andrew Sachais Follow @AndrewSachais This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
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