Crocuses Technology {IGM}

I thought I'd continue our "Crocus Series" by showing you a few sectors that have many of the same characteristics as the major market indices. For a more complete explanation of some of these terms please see Thursday's SPY posting.

1. Technology has acted better than certain other sectors of the market for awhile. Notice it's uptrend is more pronounced and it has been making positive advances longer than some of the other sectors we've looked at. It too is bumping up against major resistance. Probability suggests that these stocks could either pause here or have some sort of a shorter term pull back. These stocks have also advance 5 of the last 6 weeks also making them vulnerable to some profit taking in the coming weeks.

2. Same trading range.

3. Sector is also overbought.

*Long IGM in various client accounts.