Tech Update

It's not just BIDU, but the Tech Sector in general.

XLK has posted a strong pivot, the stronger the head fake move, the stronger the reversal is the general rule and there are multiple Techs out there with little to no underlying support here.

Here's a pivot in the 3x leveraged Tech BEAR ETF, TECS.

 TECS 15 min, when you see XLK (Technology ETF) below, remember the divergence in 3C in TECS (the opposite of XLK) and also the pivot created today as TECS makes the pivot on the break below the red trendline.

 Here's the Pivot on a daily chart of XLK.

 XLK 1 min chart isn't showing any confirmation/support here, intraday volatility. These are hard moves to short in to because they run counter-intuitive to you emotions, but they tend to be the some of the best entries and lowest risk. Emotions rarely serve us well in making decisions in the market.

 XLK 2 min confirming there's no support/confirmation of this move, the market is just extremely correlated and one issue drafts off another.

 XLK 5 min

And remember to compare the XLK 15 min chart here with the TECS 15 min chart at the top.