Stock chart patterns and technical analysis (TA) explained simply. Disclaimer: This blog and all its contents are for educational and entertainment purposes only. Do not trade or invest based on any information seen on this blog. Please read Terms of Service. The K E Stone blog sites (Keybot the Quant) are blacklisted by Google, so enjoy the ad-free experience, and only use the Donate button when supporting the sites.
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Wednesday, February 16, 2011
XLK Technology Sector Negative Divergence
XLK technology sector chart shows what many charts show right now, both weekly and daily charts, negative divergence. A great looking short chart. Should fall down any day. To verify that the XLK has rolled over, the two hanging man candlesticks circled would require confirmation to the downside with the next candle. Interesting to see the prior circled area where two doji candles ushered in a big selling day. We'll see what the two hanging man candles usher in. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.
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