During trading today, the S&P 500 dropped 2.5%, and the Technology sector (XLK) showed little change.
Although it went in the opposite direction of the market today, the ETF tracked closer to the overall market today than over the past week. Entering today's trading, XLK was down 2.6% over the last seven trading days while the S&P 500 was down 3.3%.
Increasing 12.8% (+34 cents) to close at $2.99, Microvision (MVIS) was a major gainer in the sector. Today, 4.9 million shares traded hands. The stock traded in a range of $2.38 to $3.44.
Cirrus Logic (CRUS) was one of the sector's big losers, as its price dropped 9.7% (-$2.79) to close at $25.93. 4.2 million shares of the stock moved. The stock traded between $25.59 and $27.99. Share price is up $1.46 (5.3%) from $27.39 on May 2, 2012.
GSI Technology (GSIT) rose 3.2% to close at $4.23, cross its 50-day moving average of $4.20 and 200-day moving average of $4.49.
Canadian Solar (CSIQ) rose 5.1% to close at $3.08, approaching its 50-day moving average of $3.18. It has also moved closer to its 200-day moving average of $3.30. The Ultimate Software Group (LNKD) fell 4.1% to close at $77.02, moving closer to its 50-day moving average of $76.39. Also, the stock moved closer to its 200-day moving average of $89.63.