With political, monetary policy and employment news ahead this week, the technology
sector should provide some insights. As the relative strength index shows, this sector
remains the market leader in this cyclical bull. It has moved up to a new cyclical high,
as well as a new high in relative strength for this go. The XLK relative strength line is
short term overbought as well, which means that it will be hit hard if the boyz decide to
sell the news after after having bought all the rumors (quantitative easing, a return to
political gridlock etc.). XLK relative strength.
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