With Earnings Season Here, it's Tech Time

QQQ has equal-weight equivalents equal-weight equivalents such as the Direxion NASDAQ-100 Equal Weighted Index Shares (NYSEArca: QQQE) and the First Trust NASDAQ-100 Equal Weighted Index Fund (NasdaqGS: QQEW).

Impressive earnings reports have recently helped lift the technology sector and ETFs such as XLK. Historically, after a profit falloff, the technology sector has been among the best areas in a rebound. Another catalyst is the tech sector’s status as a cyclical sector. Cyclical groups historically perform well as interest rates rise.

“The technology sector hit a fresh new high in Friday trading, and is now the best performing sector so far in 2017. As the mega-cap leaders in the group gain momentum, Ari Wald of Oppenheimer believes technology ‘is going to resume its longer-term trend of outperformance,’” adds CNBC.

For more information on the tech sector, visit our technology category.

Tom Lydon’s clients own shares of Apple, Alphabet, Amazon and Facebook.