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March 23, 2006
XLK Getting Big Challenge at Resistance
The Information Technology SPDR (XLK) is getting a battle with resistance. The stock formed a dark cloud last week and a shooting star this week. Despite a weak open, XLK recovered on Wednesday and this shows resilience to keep the uptrend alive. Medium-term support is set at 21.5 and a move below this level would reverse the medium-term uptrend.
Posted by Arthur B. Hill at March 23, 2006 09:29 AM