The Chart Report

The best technical analysis being done by the best technicians in the world every day.

  • Daily Chart Report
  • Archives
  • About Us

Chart of the Day – Thursday, September 15th, 2022

September 15, 2022 Patrick Dunuwila

$XLK vs. $SPX – Making new lows. $XLK makes up ~26% of the S&P 500.

We have not seen these levels since June 2021. pic.twitter.com/uOmnI9Z1FB

— Larry Thompson, CPA (@HostileCharts) September 15, 2022

Today’s Chart of the Day was shared by Larry Thompson (@HostileCharts). It’s a ratio chart of the Technology Sector relative to the S&P 500 ($XLK/$SPX). Tech is down more than 25% YTD, making it the second worst sector in the S&P 500. This is a problem considering Tech represents 26% of the S&P 500, and 50% of the Nasdaq 100. It broke down to new 15-months lows on a relative basis today, below a shelf of support that has been in place for 5 months. It’s going to be hard for the major indices to make any progress if Tech continues to underperform.

$XLK, Chart of the Day, Larry Thompson, Technology

Recent Posts

  • Daily Chart Report 📈 Monday, September 25, 2023
  • Chart of the Day – Monday, September 25, 2023
  • Daily Chart Report 📈 Friday, September 22, 2023
  • Chart of the Day – Friday, September 22, 2023
  • Daily Chart Report 📈 Thursday, September 21, 2023

Follow @thechartreport

  • Instagram
  • Twitter

© 2023 The Chart Report. All Rights Reserved.

Terms and Conditions - Privacy Policy