The Technology ETF (XLK) remains in bull mode as it trades above a green cloud and the Tenkan-sen (Conversion Line) holds above the Kijun-sen (Base Line). The Tenkan –sen (blue) is the average of the 9-day high-low range. The Kijun-sen (red) is the average of the 26-day high-low range. The first negative signal would be when the Tenkan-sen moves below the Kijun-sen. See our ChartSchool article for more on Ichimoku Clouds.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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