I'll also note that 9 out of the last 9 years tech has experienced a significant correction during the first quarter, often in January.
The worst corrections have tended to follow after powerful moves in December.
I think the breakout of the coil now puts tech into that camp.
Another warning sign for everyone listening to the media hype tech is found in the point and figure chart.
Whenever an asset puts 20 X's in a row without a correction it's in an extremely overbought condition and subject to a hard reversal.
The cubes now have 19 boxes checked without a correction and heading directly into the seasonally weak 1st quarter.
This probably isn't the best time to follow the herd.