The S&P 500 Technology sector has had an amazing run since the start of the year. As shown in our trading range chart below, the sector has nearly gone parabolic in recent days and has moved well above overbought territory.
The run has been so strong for the Tech sector that it has been up for 10 consecutive trading days and 17 out of the last 18. Below are the five other 10-day winning streaks that the sector has had since 1990. We also provide how the sector performed on day 11, over the next week and over the next month following these five streaks. As shown, the sector has declined on day 11 three out of five times, but it has been up over the following week all five times for an average gain of 1.62%. Over the next two weeks, the sector has been higher three out of five times for an average gain of 0.88%.
