Technology Sector ETF Hits Second-Ever 13-Day Winning Streak and Fresh Highs
Technology Select Sector SPDR Fund achieved a 13-day winning streak, matching only two prior runs since its 1999 debut. The ETF is on pace for its third consecutive week with over a 3% gain even as market breadth lags behind fresh record highs.
1. Winning Streak Milestone
Technology Select Sector SPDR Fund extended its winning streak to 13 sessions, a feat only two prior runs since its 1999 inception. Alongside the Nasdaq Composite and Philadelphia Semiconductor Index, the ETF’s streak underscores growing momentum in tech stocks.
2. Weekly Gains Surge
The ETF is set for its third straight week of gains exceeding 3%, matching a level last seen in late 2002 post-dot-com bust recovery. Record highs across key indices highlight sustained buying interest in the sector.
3. Historical Echoes
Similar 13-day and three-week surges occurred during early 2001 and 2002 recoveries, yet the current breakouts are pushing to fresh all-time highs rather than rebounding from low points. This nuance raises comparisons to both recovery phases and the 2000 market peak.
4. Breadth and Concentration Risks
Despite new highs, broader participation remains uneven as market breadth has not fully confirmed the breakout, with concentration in a handful of large-cap names still prominent. Investors are monitoring whether strength will broaden to underpin a durable uptrend.