Why S&P 500 Technology Sector Now?

So we could be seeing that the S&P 500 Technology sector is in the improving quadrant and there should be soon that we see the S&P 500 Technology sector moving into the leading quadrant.

If we looked at how the performance of the technology sector have been influenced by semiconductor and tech stocks, we can see that Nvidia has a nice gains of more than 7.5% while Palantir has also gathered more than 6.5%.

We are also seeing potential upside from S&P 500 Technology sector based on a longer period (1 week), there is signal from MACD, as we are seeing bullish upside forming, I believe this should continue to grow on the bullish upside.

There have been an upside seen from the KDJ also, as we are seeing upside from J value in KDJ, there will be much more upside movement coming from XLK.

I am holding onto my two stocks in the technology sector.

Summary

As we see strong recovery from the tech and mega cap stocks, there would be a possibility that XLK would go into the leading quadrant and stay there for quite some time.

Appreciate if you could share your thoughts in the comment section whether you think technology sector would continue to do well?

Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.