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Don't Look at Technology for Leadership

Stockcharts.com

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

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

Andrew Sachais' focus is on analyzing markets with global macro-based strategies. Sachais is a chief investment strategist and portfolio manager at the start-up fund, Satch Kapital Investments. The fund uses ETF's traded on the U.S. stock market to gain exposure to both domestic and foreign assets. His strategy takes into consideration global equity, commodity, currency and debt markets. Sachais is a senior at Georgetown University earning a degree in Economics.
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SYM TRADE IT LAST %CHG
FXA $77.86 0.00%
ITB $27.56 0.00%
RSP $81.57 0.00%
XLK $41.47 0.00%
AAPL $124.75 0.00%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

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