Chart of the Day - Tuesday, July 23rd, 2019
July 23, 2019
Today's Chart of the Day was shared on Twitter by Dan Russo of Chaikin Analytics (@DanRusso_CMT). It's a line chart of the SPDR Technology sector ETF, $XLK breaking out to new all-time highs. Dan notes that recent strength from Semiconductor stocks has been helping push Technology higher. In fact, the Semiconductor ETF, $SMH closed at a new all-time high today along with $XLK. Continued strength from Semiconductors would be bullish for the Technology sector. In addition, strength from the Technology sector would be bullish for the broader market, as Technology represents the largest weighted sector of the S&P 500.