Tech Sector Update (XLK)

This is why I carry the SQQQ inverse 3x short QQQ position as the Q's have significant exposure to tech.

In any case, looking at Tech on its own, there looks to be some very big trouble brewing or brewed already there.

 This is the weekly 3C chart, note the "In line" or confirmation through much of the trend since 2009 (green arrows/ 3C moving with price), however something starts in 2013 and carries through in a much stronger way through 2014.

 The 2 hour chart with the last dip breaking a multi-year trendline and a Broadening top.

 XLK 30 min leading negative at the August cycle's Igloo top and Chimney and again through the latest October run.

 The October run on a 10 min chart leading negative

And the 5 min chart

Today is interesting as the last couple of days are nearly perfectly in line, today is diverging significantly