Investors are closely monitoring the Technology Select Sector SPDR (XLK, Financial) as its pivotal price points indicate possible market movements. The recent calculations reveal a pivot high at $195.17 and a pivot low at $190.87, determined using the DeMark methodology.
Market participants typically interpret a break above the pivot high as a bullish signal, suggesting an upward trend. Conversely, if the price drops below the pivot low, it could indicate a bearish sentiment, signaling a potential downward trend.
As these levels serve as key indicators for traders, any movement beyond these thresholds could prompt strategic adjustments in investment decisions related to XLK.
