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MarketBeat
MarketBeat
Ryan Hasson

Should Investors Chase Tech Gains Into Year-End?

XLK Nvidia Apple ETF NVDA Microsoft Nasdaq

With just over a month remaining in 2024, the tech sector stands out as one of the year’s top performers. The Technology Select Sector SPDR ETF (NYSE: XLK), which tracks the performance of leading tech stocks, has gained an impressive 21.3% year-to-date. Despite its strong run, XLK shows signs of potential for even more significant gains as it consolidates within an ascending wedge formation, just 1.96% away from its 52-week high. This proximity to a potential breakout raises an important question: Should investors chase further gains in the tech sector as we approach year-end?

December’s Seasonal Tailwind

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