Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Stocks

Technology Long-Term Double-Top?

by July 10, 2023
July 10, 2023
Technology Long-Term Double-Top?

Admittedly it is early, very early to make a pronouncement that a double-top is “in”, but we do have a second top and it could be THE top. We’ve annotated the prior long-term top from 2021. Technology’s bear market began in earnest at that time. The Silver Cross Index was not as high as it is now. It is very overbought.

Granted the Golden Cross Index is rising and could rise higher. Many of the stocks within the sector have EMAs that are configured as XLK. Price is well above both the 50/200-day EMAs. The loss of a Golden Cross requires price to move below the 200-day EMA, that is a long way down for many of the very overbought stocks within Technology.

We have a bearish Adam & Eve double-top in the short-term on XLK that suggests at the very least a pullback. The PMO is in decline after bearishly topping beneath the signal line. Participation is holding strong, but is overbought in all timeframes. Nowhere left for those indicators to go except down.

Conclusion: Technology is very overbought and we could be looking at a long-term double-top. At a minimum we have a short-term double-top that suggests a pullback. We will want to watch the Silver Cross Index closely, if we see a drop beneath the signal line it will be character change or “bearish shift”.

Subscribers have access to the Golden Cross/Silver Cross Indexes for nine indexes, 11 sectors and five industry groups.

Get Two Weeks FREE!

Come try out the DecisionPoint Alert and DecisionPoint Diamonds reports for free! Just use coupon code: DPTRIAL2 and you get two free weeks! Cancel at anytime.

Learn more about DecisionPoint.com:

Watch the latest episode of DecisionPoint on StockCharts TV’s YouTube channel here!

Technical Analysis is a windsock, not a crystal ball. –Carl Swenlin

(c) Copyright 2023 DecisionPoint.com

Helpful DecisionPoint Links:

DecisionPoint Alert Chart List

DecisionPoint Golden Cross/Silver Cross Index Chart List

DecisionPoint Sector Chart List

DecisionPoint Chart Gallery

Trend Models

Price Momentum Oscillator (PMO)

On Balance Volume

Swenlin Trading Oscillators (STO-B and STO-V)

ITBM and ITVM

SCTR Ranking

Bear Market Rules

DecisionPoint is not a registered investment advisor. Investment and trading decisions are solely your responsibility. DecisionPoint newsletters, blogs or website materials should NOT be interpreted as a recommendation or solicitation to buy or sell any security or to take any specific action.

0
FacebookTwitterGoogle +Pinterest
previous post
DP Trading Room: Technology On Its Way Down?
next post
Trump slams Iowa’s Republican governor for staying neutral in 2024 presidential nomination race

You may also like

How Big Moves Begin

April 7, 2023

Have We Bottomed? Here Are 3 Charts To...

July 23, 2024

Harnessing Momentum: Jumping On the 52-Week Breakout (Before...

May 15, 2023

Is It Game Over for Growth Stocks?

July 20, 2024

Volatility Ahead: What Investors Need to Know Right...

March 31, 2025

Snowflake and Twilio Stocks are Surging: Here’s What...

January 28, 2025

Energy-related Commodities Lead, but Oil Looks Vulnerable

September 21, 2023

NASDAQ Breaks Out Again; 2 Stocks To Consider...

March 31, 2023

A Wild Ride in the Market

June 16, 2023

The Ord Oracle January 17, 2023

January 18, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump ally stands firm against ‘big, beautiful bill’ despite pressure: ‘It’ll completely backfire’

      June 8, 2025
    • Rubio condemns assassination attempt on Colombian presidential candidate Miguel Uribe

      June 8, 2025
    • Obama WH physician says Biden doc should have performed cognitive test

      June 8, 2025
    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,571)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved