Technology Select Sector SPDR Fund

  • XLK

  • $233.15

  • +0.87%

  • $233.37

  • $234.57

  • $229.80

FSI Sector Allocation

Ticker Appearances

Mon, September 16, 2024 | 12:01PM ET

⚡ FlashInsights

Mon, September 16, 2024 | 12:01PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥 🔥
Heading into Europe's close, we see a moderate rally in US Equities that has been largely disguised by weakness in AAPL -0.14%  which is falling by the most it has in a month. While Equal-weighted S&P 500 did rise to a record high today early in trading before giving back some of these gains, 10 of 11 sectors are higher today on an Equal-weighted basis, with only Technology being dragged down. This Tech weakness isn't as apparent when eyeing RYT which is just lower by -0.26% but XLK 0.87%  is down -0.67% as AAPL along with SKYW 1.13% , QRVO 3.37%  MU 4.66% , TER 1.87% , and AVGO 0.41%  are all down more than 3%. Thus, Semiconductors are down, but the broader market is acting fine, with Financials, Energy, REITS and Utilities all higher by more than +0.50% and even Healthcare is up by +0.47%. Overall, it's important to recognize that the US stock market is made up by more than just AAPL -0.14% , but Technology's negative performance today is dragging down the major US Benchmark indices like SPX and NASDAQ, while DJIA is positive, DJ Transportation Avg is positive and RSP 1.30%  is higher by over +0.30%.
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Fri, July 5, 2024 | 9:22AM ET
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Daily Technical Strategy
Wed, July 3, 2024 | 2:56PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

Dollar and Yields plunge as Continuing Claims hit multi-Year highs

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