Technology sector was one of the strongest since post Trump election until he make last week a new LL . From now we are bearish until market will make a new HH.
The prior pivots for trading this week are $132.43 and $129.68-$129.38 on QQQ ($53.66 – $52.55 for XLK) . As long as QQQ hold below $132.43, stay bearish and watch for follow through to clear $129.38 trading weak stocks, but be patient if we will go below 132.43 because we enter oversold area and we may need more time for rest . If bulls build up power and broke $132.43 , see if they hold above and watch for follow through.
Strong stocks :
AAPL, MSFT, FB, CSCO, TXN, ADBE, NVDA, YHOO, AMAT, ATVI, MU, LRCX, SYMC, SWKS, CHRP, KLAC, SNPS, QRVO.
Weak stocks :
GOOGL, QCOM, BIDU, INTU, PAYX, XLNX, STX, IBM.