 Whilst I had previously been bullish on this sector, after trend breaks in S&P 500 and NDX I've had to change my short/intermediate stance. This ETF now sports a mini head and shoulder top with a declining neckline and that has taken price through support. Negative divergence is present on both the daily and the weekly chart as can be seen below. I would also note the increased volume on the break of the neckline, this adds to the strength of the pattern.  It's also looking likely that price will break the uptrend on the weekly chart although as of typing, that has yet to be confirmed. The relative strength of this sector vs SPY has also deteriorated making it a good sector to look for shorts as long as US markets remain in corrective mode.
| author | technicaltrader |
|---|---|
| permlink | cyber-security-etf-hack-analysis |
| category | trading |
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| created | 2018-10-05 13:38:00 |
| last_update | 2018-10-05 13:38:00 |
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| root_title | "Cyber Security ETF (HACK) Analysis" |
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