XLK, SMH both show negative diverging and bearish gulf pattern. I don't think we should ignore the signal even tech is able to rebound in a few days or even get close to recent high. This type of signal usually indicates change of the trend or starts of some sort of correction. It is more reliable than any other indicators (although exceptions do exist). The impact of negative diverging usually last a few weeks or month. I believe sectore rotation is happening in the market right now.
However, I don't think we need to sell all AAPL,AMZN,GOOGL,NVDA, etc. But some profits need to be taken. And don't try to get back in too soon. Let market resolves the gains in those over time. At the moment, inflation trades are back on the table.
