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Chris Ciovacco: Tech XLK could retrace to key Fibonacci support levels
Chris Ciovacco notes that if the Technology Select Sector SPDR Fund (XLK) experiences a normal retracement down to key Fibonacci levels—38.2%, 50.0%, or 61.8%—there would still be multiple potential forms of support beneath these thresholds.
He highlights the presence of numerous support areas even if XLK undergoes a pullback to these commonly watched technical levels.
Ciovacco has previously assessed how market patterns for 2026 compare to those seen during the dot-com bubble in 2000. He has also emphasized the importance of a fact-based approach to investing, cautioning that personal opinions can miss actual market conditions. These earlier analyses provide context for his focus on technical support levels in XLK.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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