There will probably be many more Technology names competing with ORCL this week to get in the cellar.

The Information Technology sector ranks third out of the ten sectors as detailed in my Sector Rankings for ETFs and Mutual Funds report. It gets my Neutral rating, which is based on aggregation of ratings of 27 ETFs and 144 mutual funds in the Information Technology sector as of July 15, 2014.

GLD is at a valid support level for the anticipated pullback. Lower support is noted, in the event things get woogly here during FOMC week.

In this weekly update, I give my view of the current market environment, offer a technical analysis of the S&P 500 chart, review our weekly fundamentals-based SectorCast rankings of the ten U.S. business sectors, and then offer up some actionable trading ideas...

SMH is still undecided, which means the SOX is still undecided as to the title’s question. The decision for this sector that led the post 2012 stock market comes with a break up and out of the red line or a failure of the green one.

GLD remains in a Symmetrical Triangle, which gold bugs hope is not a typical Sym-Tri AKA continuation pattern.