Tech Tock, Tech Tock

Is it finally time for tech to take a breather? After hours traders appear rather indignant that Intel won't offer any Q2 guidance. Ah but alas, Obama Von Spendthrift and his tax evading cronies did not give the chip-makers permission to cook their books...only the banks. This lack of guidance may become popular during earnings.
Intel was being looked to for reassurance that the economy was in fact healthier than ever - big surprise. If you believe the tide is turning, at least temporarily, take a look at AAPL and GOOG, who conveniently happen to be up against resistance (which will allow for a low risk entry).
AAPL

GOOG


I will remain patient and see how this week's earnings go. The last 27 days have, for good reason, made me more cautious than usual. The short term trend is still up but it is clear that overhead resistance is taking its toll due to the rounding/topping shape of the SPY. It doesn't mean we don't go higher but it may indicate it's finally time for that pullback.
SPY


Here are two short suggestions:
XLU

XLB

Unfortunately, the options on these kind of suck but fortunately, they are cheap enough to short outright.