Volume is coming in like crazy today in a lot of tech names. We’re seeing huge reversals across the board. Many momo names are all showing signs they want to rest.
NVDA gapping like crazy and reversing lower today
Tesla is already 10 points off the high
XLK potentially (we haven’t closed yet) forming a bear engulfing day
Apple, Google, Amazon are all breaking consolidations lower
Meanwhile, energy, healthcare and financials are near the high of the day. This sell-off is highly contained and concentrated, at least so far.
If it stays that way, it’s a good sign for the overall market.
Trade ’em well.