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The tech sector, as tracked by the XLK ETF, is up close to 22% over the past six months, beating, by a mile, the 16% gains seen in the S&P 500.
While we’ve seen some compelling signs that the market is ready for new leadership, tech is still presenting problems for the bears.
That said, I think we’re in the sucker phase of the current rally; bandwagoning, not fundamentals, are powering this thing higher.
I need to see participation broaden significantly if I’m to be convinced this is sustainable.
But, for all of that, I’m not ready to switch up to bearish trading strategies yet. There are still breakout setups unfolding, served up on a silver platter.
Let me show you what I mean…
