Where Would Tech Be If Not For Solar:
In 2022 the renewable energy equipment space has been a workhorse. It is the only sub-sector within that is higher on a YTD basis, with computer hardware and services and software and semis all down between 12-33% so far this year. If one wanted to play the mean reversion game in technology, not for me, I could see some scenarios where investors would want to overweight the downtrodden semis and software and underweight solar. For me, PRICE is the ultimate guide and for that reason alone the TAN should be applauded even though it is running into some headwinds not surprisingly at the very round 90 number with some dubious candlesticks. If that 90 level is taken out look for a rapid move toward the very round par figure. ENPH is the beast of the bunch and although it hiccupped at the 300 number, which is the area of a bull flag breakout with a measured move to 400, look for it to solidify here and grind its way upward into Q4.