A tech stock breakout is defying market bears and signals strength into year-end, analyst says

Strength in technology stocks as U.S. equities enjoy a bounce off their October lows looks like a breakout that signals the potential for strength into year-end, a technical analyst said Thursday.

The Technology Select SPDR ETF XLK is breaking out above the downtrend in what technicians call a bullish flag pattern while the relative price makes new highs, Dempter said . The tech-heavy Nasdaq Composite COMP index eked out a gain Monday for its ninth straight rise, while the S&P 500 SPX rose for an eighth straight day, the longest winning streaks for both indexes in two years. The Dow Jones Industrial Average DJIA snapped a seven-day winning streak Wednesday.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

A tech stock breakout defies market bears and signals strength into year-end, analyst saysFocus longs on large-cap tech stocks, branch out beyond ‘Magnificent 7’: RenMac
Источник: MarketWatch - 🏆 3. / 97 Прочитайте больше »

Jim Cramer examines why the 'Magnificent Seven' tech stocks have seen volatility in the marketCNBC's Jim Cramer on Wednesday detailed why the 'Magnificent Seven' tech stocks are often traded on Wall Street.
Источник: CNBC - 🏆 12. / 72 Прочитайте больше »

Jim Cramer examines why the ‘Magnificent Seven' tech stocks have seen volatility in the marketCNBC’s Jim Cramer on Wednesday detailed why the “Magnificent Seven” tech stocks are often traded on Wall Street.
Источник: NBCLA - 🏆 319. / 59 Прочитайте больше »

Stock Market News Today: S&P 500 on Winning Streak; Disney Stock in FocusLive coverage of stocks, financial and economic news, including the S&P 500, Dow and Nasdaq Composite.
Источник: WSJ - 🏆 98. / 63 Прочитайте больше »