The 09/26/26 blog “September 28, 2026 – Final U.S. Market Stock Peak?” noted “The ideal scenario for 09/28/26 would be for both Nasdaq Composite (IXIC) and Technology stock sector – ETF (XLK) to make new highs unconfirmed by S&P 500 (SPX) and Dow Jones Industrial Average (DJI). If this occurs it could signal an important peak”.
What subsequently happened was a slow XLK rally while IXIC, SPX, and DJI diverged.
The daily XLK, IXIC, and SPX chart courtesy of Trading View illustrates their relationship.
On 10/01/26 XLK came very close to a new all-time high. IXIC and SPX are lagging. The DJI not shown is also lagging.
If XLK on 10/02/26 makes a new all-time high unconfirmed by IXIC, SPX, and DJI it could signal an important U.S. stock market peak.
