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If I had told you a month ago that Google, Tesla and Bio-Tech would fall -7% to -15% , would you have thought the S&P 500 would be “FLAT” if that happened? Well it did and I suspect that surprised more than me.
These three stocks that have been hit hard are associated with the Nasdaq index. The above chart reflects that the NDX 100 index is testing rising support and its 50MA at the same time.
Who needs to “Catch-Up” with the other group? S&P 500 need to catch up with Google, Tesla & Bio-Tech or are these hard hit stocks ready to have a sharp and strong rally???
Joe Friday….Big dual test of support test is at hand for the NDX 100 right now! A break of this support, would suggest further selling in this key stocks.