While precious metals miners are having a field day today with breakouts galore, one tech sector, Networking, has quietly made new 52 week highs. These are stocks like Cisco, Motorola, Arista Networks, Citrix to name a few.

Although Networking stocks made new 52 week highs, the index is still technically in a long term bear market from the 2000 peak. We see that the $NWX Networking Index broke out of a 16 year downtrend against the Nasdaq 100 in 2016. On its long term nominal chart, the $NWX has a measured move target to 900, about 55% upside from current index valuation. Please see this post on my blog if you’re interested in reviewing some charts for individual Networking stocks. -Harry