Technology stocks (XLK) have shown signs of slowing momentum via lower weekly MACD readings while prices have moved higher. Component industry groups like semiconductors ($DJUSSC) and software ($DJUSSW) have similar momentum issues and that contributed to industry weakness as technology was one of the worst performing sectors last week. One large cap technology stock that suffered was Qualcomm (QCOM), which fell 2.48% for the week and has fallen close to 10% since topping in late October. QCOM's chart, however, is very strong technically and the recent weakness looks like nothing more than an intermediate-term consolidation after a strong advance. Check it out:
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