Notice the technology came late to this rally. It spent 2004 - 2006 consolidation in a trading range. However, it made up for lost time after it broke out of this range in 2006 with a strong rally that peaked at the end of 2007. However, the sector has since fallen 20% and is back to early 2006 levels.
The yearly chart shows the index formed a triangle top in late 2007 but has since fallen. Also note that prices are currently in a downward sloping channel.
On the SMA (3 month) chart, notice the following:
-- Prices are below the 200 day SMA by about 12%.
-- The 50 day SMA is heading lower
-- Prices and the SMAs are tightly bunched right now.
-- Prices are in a slightly downward sloping downtrend right now.
I'm on Linked In and Twitter (@captivelawyer). Silver Oz's Linked In name is @silver_oz. NDD is a fossil and may be reached by etching a picture in stone on the wall of a cave.
The Bonddad Economic History Project
At the beginning of 2012, I decided to start looking at the actual, statistical history of the US economy starting in 1950. The reason is simple: to find out what really happened. So, when you see title of a post that begins with a year such as 1957, followed by "employment" or "Fed policy: you know what it's for. You can also access the information by typing in BE for Bonddad econ and a year to find information on a particular year.
Here is a link to pages that contain links to all the posts on the years listed.