TECH STOCKS FAILING–WHAT’S NEXT?
NQ 100 futures took out 20200 intraday to issue a sell signal and project r19769 and 19655. Cluster cycles still seem weak into Friday and Sunday so a deeper break is coming. Key Megacaps have also completed some key patterns with NVDA stalling at 144 and MSFT even failing to get to 433 for a 2nd wave and Tesla has major support at 209 going into the earnings report in a few hours and could easily breakdown if it is bad and get to 179. The XLK has a chance to retrace to 220.
Tech still could come back so where is it going thereafter? Do we dare to play so close to major topping action with the patterns from the 1932, 2009 and 2020 lows just about complete?
