This tech stock may hold the key to the market — and it's not Nvidia

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S&P 500 Index Nyheter

Technology Select Sector SPDR Fund,Communication Services Select Sector SPDR Fund,Meta Platforms Inc

Frank Cappelleri breaks down the chart in Meta and shows why it could determine the market's fate.

A stock that's done nothing since early February could be the key to the stock market's fate. That stock is Meta Platforms . Way back on February 2nd,

's breakout and breakdown attempts over the last six months have failed to garner any follow through. As such, it isn't worth guessing until there's a definite move. At some point one side will give way and over the last few years. In September 2021, and XLC are closely aligned with the S & P 500 , too. Indeed, the XLK Technology ETF has a much bigger weighting in the S & P overall. But as this chart shows, the S & P 500 hasn't veered too much from XLC or

can continue to hold, it would help the S & P 500 stay afloat. Further,

 

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