The Technology Select Sector Spyder ( XLK) has been a lagging sector since the March lows.
The seasonal chart shows that XLK typically bottoms on October 5 and rallies until early in the following year.
The worst-hit sector has been technology, as the Apple-heavy Select Sector SPDR Technology (XLK) is down well over 13%.
This reflects the 7.8% drop in XLK from the September highs, compared to the 3.9% drop in the Spyder Trust ( SPY).
That said, selling in XLK remained significant and if traders and investors become less risk-seeking, the fund could see a second consecutive lower close.
Chart Analysis: The weekly chart of the Select Sector SPDR Technology ( XLK) shows the decisive close above the last four-week highs on Friday.
The performance of all four was quite similar, with KBE leading up 14%, followed by XLK rising 13.7% and the other two just slightly above 12%.
FORBES: The Week Ahead: What Do Sectors Say About the Economy?
The long-term chart of the Select Sector SPDR Technology ( XLK) does look more attractive, as it staged a major breakout above resistance (line c) in early 2012.
Among the largest underlying components of XLK, in trading today Qualcomm Incorporated ( QCOM) is up about 1.2%, and Cisco Systems Incorporated ( CSCO) is up by about 0.2%.
The weekly chart of the Select Sector SPDR Technology ( XLK) shows that it formed complex bottoms in both the summer of 2010 and 2011 that led to quite impressive rallies.
In the long run, the selling in XLK could prove productive insofar as it relives the kind of overbought pressure that can drive an ETF too far too fast to the upside.
The Sector Select SPDR Financial ( XLF) has lost 6%, the Sector Select SPDR Technology ( XLK) has lost 5.5% while the Sector Select SPDR Energy ( XLE) is down 5.3%.
According to the ETF Finder at ETF Channel, AAPL makes up 20.71% of the Technology Select Sector SPDR Fund ETF ( AMEX: XLK )which is trading higher by about 0.5% on the day Tuesday.
Among the largest underlying components of XLK, in trading today Qualcomm, Inc. ( NASD: QCOM) is up about 0.3%, EMC Corp. ( NYSE: EMC) is up about 1.3%, and Hewlett-Packard Co ( NYSE: HPQ) is relatively unchanged.
Among the largest underlying components of XLK, in trading today Intel Corp ( NASD: INTC) is trading flat, eBay Inc. ( NASD: EBAY) is down about 1.3%, and Salesforce.com Inc ( NYSE: CRM) is lower by about 0.3%.
Among the largest underlying components of XLK, in trading today Apple Inc ( NASD: AAPL) is up about 1.2%, Microsoft Corporation ( NASD: MSFT) is down about 1%, and Google Inc ( NASD: GOOG) is up by about 1%.
FORBES: XLK, AAPL, MSFT, GOOG: Large Inflows Detected at ETF
Among the largest underlying components of XLK, in trading today Google Inc ( NASD: GOOG) is down about 0.6%, EMC Corp. ( NYSE: EMC) is off about 0.9%, and Visa Inc ( NYSE: V) is lower by about 0.8%.
FORBES: Technology Select Sector SPDR Fund Experiences Big Outflow
Among the largest underlying components of XLK, in trading today Visa Incorporated ( NYSE: V) is down about 0.5%, Mastercard Incorporated ( NYSE: MA) is up about 0.3%, and eBay Incorporated ( NASD: EBAY) is lower by about 2.2%.
Among the largest underlying components of XLK, in trading today eBay Inc. ( NASD: EBAY) is down about 0.4%, MasterCard Inc ( NYSE: MA) is up about 0.1%, and EMC Corp. ( NYSE: EMC) is up by about 0.9%.
Among the largest underlying components of XLK, in trading today Google Incorporated ( NASD: GOOG) is up about 5.6%, Oracle Corporation ( NASD: ORCL) is up about 1.3%, and Intel Corporation ( NASD: INTC) is lower by about 0.3%.
FORBES: Technology Select Sector SPDR Fund Experiences Big Inflow
Among the largest underlying components of XLK, in trading today Visa Inc ( NYSE: V) is up about 0.9%, EMC Corp. ( NYSE: EMC) is down about 0.2%, and eBay Inc. ( NASD: EBAY) is higher by about 0.3%.
Among the largest underlying components of XLK, in trading today Cisco Systems, Inc. ( NASD: CSCO) is off about 0.1%, Qualcomm, Inc. ( NASD: QCOM) is down about 1.3%, and Intel Corp ( NASD: INTC) is lower by about 0.1%.
FORBES: Technology Select Sector SPDR Fund Experiences Big Inflow
Among the largest underlying components of XLK, in trading today Verizon Communications Inc ( NYSE: VZ) is down about 0.2%, Intel Corp ( NASD: INTC) is off about 1.4%, and MasterCard Inc ( NYSE: MA) is lower by about 0.8%.
FORBES: Technology Select Sector SPDR Fund Experiences Big Outflow
Among the largest underlying components of XLK, in trading today Oracle Corp. ( NASD: ORCL) is off about 0.6%, Qualcomm, Inc. ( NASD: QCOM) is down about 0.3%, and Cisco Systems, Inc. ( NASD: CSCO) is lower by about 1.5%.
FORBES: XLK, ORCL, QCOM, CSCO: Large Inflows Detected at ETF
Among the largest underlying components of XLK, in trading today Google Incorporated ( NASD: GOOG) is up about 0.7%, Oracle Corporation ( NASD: ORCL) is up about 2.4%, and Verizon Communications Incorporated ( NYSE: VZ) is lower by about 0.4%.
FORBES: Technology Fund Sees Inflows -- VZ, GOOG, ORCL Top Holdings
Among the largest underlying components of XLK, in trading today Oracle Corp. ( NASD: ORCL) is down about 0.1%, Intel Corp ( NASD: INTC) is up about 1.2%, and Cisco Systems, Inc. ( NASD: CSCO) is lower by about 1.1%.
FORBES: XLK, ORCL, INTC, CSCO: Large Inflows Detected at ETF
Among the largest underlying components of XLK, in trading today Intel Corp ( NASD: INTC) is off about 0.8%, Oracle Corp. ( NASD: ORCL) is down about 1.3%, and Cisco Systems, Inc. ( NASD: CSCO) is lower by about 1.2%.
Among the largest underlying components of XLK, in trading today Google Inc ( NASD: GOOG) is down about 2%, Verizon Communications Inc ( NYSE: VZ) is off about 0.9%, and Oracle Corp. ( NASD: ORCL) is lower by about 1.9%.
FORBES: Technology Select Sector SPDR Fund Experiences Big Inflow
Among the largest underlying components of XLK, in trading today Google Incorporated ( NASD: GOOG) is up about 0.6%, Oracle Corporation ( NASD: ORCL) is down about 2.6%, and Verizon Communications Incorporated ( NYSE: VZ) is lower by about 0.4%.
FORBES: Tech Fund Sees Outflow -- Top Holdings VZ, ORCL, GOOG
Among the largest underlying components of XLK, in trading today International Business Machines Corp. ( NYSE: IBM) is off about 0.9%, Microsoft Corporation ( NASD: MSFT) is up about 0.2%, and Visa Inc ( NYSE: V) is lower by about 0.2%.
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