Something else that I noticed tonight regarding the largest sector in the S&P 500 is this potential head & shoulders pattern forming on the XLK (shown below on a 2-day period chart). This pattern would still have some work to do but ideally, XLK would begin to reverse anywhere from current levels to not too much above the peak of the left shoulder (roughly the 30.70 area) soon while moving lower on increased volume. Just something to monitor for now as any move much above that 30.70 area would destroy the symmetry and invalid this pattern.
