Now that was the type of big tech selloff that causes major panic.
On Friday the Nasdaq was down 2.5% lead by down moves in Facebook, Google, Netflix, Amazon, Apple, and Tesla.
Sure it was scary, but guess what?
It was a actually a good day.
While it’s true that the momentum sector of 2017 sold off, other sectors had their best day in months. Retail, energy and financials lead the market in a big way, which clues us in to potential market rotation.
In the Trade Report, we aggressively entered two positions from these beaten down sectors.
Now the question is “do we see continuation?”
That’s what we will analyze this week. Key indexes to watch are IWM,QQQ, SMH, XLF, XLE and IBB. I will analyze the relationships between these areas closely, tracking price action and most importantly, money flow.
In today’s video, I show you exactly how to analyze Friday’s big tech selloff, potential short and bounce plays, along with sectors seeing strong rotation that should be at the top of your watchlist.
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