The Technology sector may be in for a bit of a bounce here, IF major support holds on FNGU -- an exchange-traded note that tracks 3x the daily price movements on an index of US-listed technology and consumer discretionary companies -- around the 32.00 level (price support plus the upper moving average on the William's Alligator on the monthly timeframe).
Check out the daily, weekly and monthly charts below.
However, any sustainable rally must break and hold above the trendline on the weekly chart around 33.00.
Otherwise, look for further weakness to continue.
