The Tech sector is looking very interesting, I added TECL Friday, a 3x leveraged long Tech ETF and I have an open XLK October $31 Calls, I'm going to add a little to both of those positions.
I don't think you need both at all and if I had to choose I'd probably pick TECL, but I think the call is nice for initial momentum which I could have cashed in on today (XLK calls are still in the green).
Here's TECL charts... I like them here and will likely add as soon as I post this.
2 min Friday and improving quickly today.
3 min in a leading positive since Friday, no damage today at all, looks great.
TECL 5 min has seen the migration of that 3 min leading to a 5 min chart leading positive, this happened very fast.
The 10 min is even leading
As is the 15 min after first putting in relative positives as is the normal progression of a divergence, look at the start of it as well, 8/ 16.
That 15 min leading positive is the kind of divergence that is very hard to ignore.
An hourly chart even gives us a strong positive trend. Now look at the opposite of TECL, TECS which I closed (long) Friday, it should give the exact opposite signal to confirm.
TECS (3x short Technology) is leading negative on the 60 min chart, good confirmation, I like this and the broad Tech group is fine for me for this kind of move, no individual stock risk
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