Bearish Flags Emerge in Tech Sector Despite Santa Rally Trend

jfsrevg
2024-12-28

While the historical trend of a Santa Rally can support conviction to increasing exposure early before breadth expands, we need to be mindful of the fact that the December 18th sell-off has led to the development of numerous bearish flags sectoral wide, which are also displayed in the current resilience of the tech sector.

Only megacap tech/growth $Vanguard Mega Cap Growth ETF(MGK)$ $iShares S&P 500 Growth ETF(IVW)$ are the notable ETFs on AUM level to reclaim December 18th high.

Bear Flags in Tech/Growth Arena: $First Trust Dow Jones Internet Index Fund(FDN)$ $iShares Expanded Tech-Software Sector ETF(IGV)$ $iShares Bitcoin Trust(IBIT)$ $Valkyrie Bitcoin Miners ETF(WGMI)$ $VanEck Digital Transformation ETF(DAPP)$ $Amplify Transformational Data Sharing ETF(BLOK)$ $ARK Fintech Innovation ETF(ARKF)$ $Communication Services Select Sector SPDR Fund(XLC)$ $ARK Innovation ETF(ARKK)$ $.DJI(.DJI)$ $First Trust NASDAQ Cybersecurity ETF(CIBR)$ $Global X Future Analytics Tech ETF(AIQ)$

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  • KSR
    2024-12-28
    KSR
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