article by Joseph Hargertt of Schaffers Research
We are about 2 full trading days away from the end of 2007, and technology stocks are looking for a strong finish, despite today's malaise sweeping the Street. The tech-laden Nasdaq Composite (COMP) is set to easily outpace its Wall Street brethren on the year, resting at a gain of nearly 12% at last check, compared to the Dow's gain of 7.6% and the S&P 500 Index's (SPX) rise of 4.6%. Still, the Technology Select Sector SPDR Fund ( XLK: View sentiment for XLKsentiment, chart, options) has bested even the mighty COMP on a year-to-date basis, adding a hefty 16.5% since January 2007.
Looking at a long-term trend for the XLK, some key levels to watch for 2008 emerge. First, support at the 26 level should remain rather important for the trust, as it is not only home to former support/resistance, bit it also houses the exchange-traded fund's (ETF) 10-month moving average - which the XLK has not closed a month below since July 2006. As long as the trust utilizes these regions for support and buoyancy, it should continue to advance well into 2008.
The second point of interest is the hard level of potential overhead resistance for the XLK at the round-number 30 level. When the trust last encountered this region in April 2001, the XLK was soundly rejected; however, economic and global issues were different at the time (think dot-com bubble). Still, this region could pose quite a problem for the trust, and it could take more than just the meandering higher that the XLK has done recently to top this level. On the other hand, a solid breach of the 30 region could definitely be a bullish indicator for the XLK in 2008.
Full article continued at: Joseph Hargett Tech Corner: Is a Solar Energy Bubble Looming for 2008?
Worth also visiting:
SolarIntell.com - Alternative Energy and Solar Power Investing
Bees Trees Frogs Elephants Nature and Ecology Blog
src="http://pagead2.googlesyndication.com/pagead/show_ads.js">
Best Green Stocks Investing Blog
Subscribe to:
Post Comments (Atom)
Yuya Joe Blog
Lake Ontario Waterkeeper
The Daily Beast -Politics Blog
21stArch.com - 21st Century Architecture
Original Joe College Blog
WikiLeaks Foreign Policy Analysis
AGreenRealtor.com Real Estate Blog - Ecology Energy Efficiency
Best Green Stocks Investing Blog
PV Intell Photovoltaic Solar Stocks Investing
SEARCH Leading Alternative Energy and Ethical Investing websites
Custom Search
Daily Kos
Rare Earth Stocks Research
Patrick MacManus's Blog Peace and Collaborative Development
BeesTreesFrogsElephants.com - Nature and Ecology Blog
Research Green Energy stocks, Clean Energy investing information
Find wind power investing info online, clean energy mutual funds, geothermal stocks, solar energy investments.
Green Energy Investing Network:
Green Stocks Investing Clean Power Blog
SolarIntell.com Renewable Power Investing Website
Wind Intell.com Wind Energy Stocks Company Links
Geothermal Power Investing Public Companies
PV Intell.com Leading Photovoltaic Solar Energy Stocks
Custom Search
Green Energy Investing Network:
Green Stocks Investing Clean Power Blog
SolarIntell.com Renewable Power Investing Website
Wind Intell.com Wind Energy Stocks Company Links
Geothermal Power Investing Public Companies
PV Intell.com Leading Photovoltaic Solar Energy Stocks
No comments:
Post a Comment