RYT (Rydex S&P Equal Weighted Technology) may also garner interest as its equal weighting index methodology allows it to avoid the top heaviness issue that is very pronounced in other tech related ETFs where the likes of AAPL, GOOG, INTC, MSFT, and others tend to dominate the index weightings due to their very high market capitalizations.

Still other plays in the space include VGT (Vanguard Information Technology), MTK (SPDR Morgan Stanley Technology), FXL (First Trust Technology AlphaDEX), PTF (PowerShares Dynamic Technology Sector), and a slew of other ETFs that drill down even further in concentrating on technology sub-sectors such as Internet, Semiconductors, Drives, Software, or Networking.

Leverage also exists in the Technology space, as TYH (Direxion Technology Bull 3X) is popular among managers who are looking to play a bullish breakout from a short term trading standpoint. We will closely monitor the near term action in the Tech sector and more broadly in the Nasdaq 100 Index as well, to see if this recent rally indeed has legs.

PowerShares QQQ

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