FYI: The S&P 500 Technology sector is up huge today, rallying 2.6% on a day when the S&P 500 as a whole is only marginally higher. As shown below, the sector has moved up into the stratosphere compared to its normal trading range. At this point in time, the sector is trading three standard deviations above its 50-day moving average. These kinds of overbought levels don’t last long, as either a pullback in price occurs or moving averages start to play catch up.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/technology-sector-weighting-explodes-higher/
