Despite XLK's decline, three of the past seven days showed empty red candles, with downward gaps followed by intraday strength; the accumulation/distribution line stayed largely stable and rose, which the speaker calls a slight upward development for XLK.

The other thing I want to point out in this chart is that despite the decline in the XLK index, note the presence of downward gaps with buying throughout the day. So, three of the past seven days, we have seen the appearance of empty red candles.

A red empty candle is a candle where we close at a lower level than the previous day, but we close above the opening price. Therefore , most weakness is a downward gap followed by strength during the day.

This pushes the Accumulation and Distribution ( AD) line upwards. Therefore, although prices were falling in the XLK index, note that the accumulation and distribution line remained largely stable.

I think this is a slight upward development here in the XLK index.