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Saturday, October 1, 2011

Tech Looks Weak


The technology sector showed relative strength in September and was the market leader. The indicator window shows the Price Relative moving higher since late June. The Price Relative is the XLK:SPY ratio. This ratio rises when XLK outperforms SPY and falls when XLK underperforms SPY. Even though the Price Relative remains at high levels, a breakdown in this leading sector would be quite negative for the broader market.

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