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The rip higher the market has been waiting for finally took place last week and participants are overjoyed with perhaps validating the idea that we are back in the midst of a bull market. However, even if this is true, we can reasonably expect a pullback to occur after such a surge in prices across the board.
With this bull rally in play, we can continue to look at a past trade idea on QQQ or look elsewhere for a sector ETF that tracks the leaders of this rally, tech. This would bring up the XLK on our watchlist once again.
Technology Select Sector SPDR ETF (XLK)
The area of the market that is driving this rally is still what we want to keep on. That is why we continue to look to these tech names as for a bullish trade. When there is a clear trend in place, we do not want to fight it. As the old trading saying goes, the trend is your friend. As long as this trend is in place, we will not be stepping out in front of this run away train. Watch the full video below for
Watch the full video at WEALTHPOP.com