SPY, XLK, XLF Technical Analysis

SPY (S&P 500) has broken to the upside on the daily time and we can now look at $286.71 as a new higher low. The next resistance for the bulls is the high of Tuesday at $289.55 and then up to the all time high of $2.91.74.  If we break below $286.71 we will see more weekly consolidation. The last weekly higher low of support is at $280.16

SPY Daily Chart:

XLK (Technology Sector) had a bull break of multiple daily inside bars. We will look at $73.25 as a new higher low of support on the daily time frame. The next resistance for the bulls is the high of Tuesday at $74.60 and then the all time high of $76.03. If we see a bear break of $73.25 we will see more consolidation on the weekly time frame that could drag the S&P down with it unless there is a rotation of money into other sectors to hold it up.

XLK Daily Chart:

XLF (Financial Sector) had a bear break today and made a lower low on the daily time frame, but the bulls managed to buy the dip before breaking the daily support of $28.10 and closed just above the middle Bollinger band. Next resistance for the bulls is $28.64 and the all time high of $28.70. Support is the low of Tuesday at $28.12 and the last daily higher low of $28.10 and then $27.61

XLF Daily Chart