News overnight that the US Justice Dept is now actively looking
into big technology for anti-trust violations has reopened fears
that the so called Fang Stocks
Apple, Amazon, Facebook, Google, and Netflix
that make up 25 % of the Nasdaq 100
could be soon be under some serious new selling pressure as big money
looks to sell first on the news and ask questions later.
The fact that the current administration is so determined
to hurt these technology companies because they have grown
as they say "too big", should merit some serious back door legal discussions
in the coming weeks as to how real this administration threat really is.
In the meantime, Daily Line/Break Chart on the Nasdaq 100
shows critical Pattern Support below the market right now at NDX 7835
If 7835 should fail, then a significant top in NDX near 8000 will be in place on the chart,
and the leading technology stocks could suddenly finding themselves
once agin under severe selling pressure.
NDX Last 7954.56
THE_UNWIND
7/24/19
NEW YORK
into big technology for anti-trust violations has reopened fears
that the so called Fang Stocks
Apple, Amazon, Facebook, Google, and Netflix
that make up 25 % of the Nasdaq 100
could be soon be under some serious new selling pressure as big money
looks to sell first on the news and ask questions later.
The fact that the current administration is so determined
to hurt these technology companies because they have grown
as they say "too big", should merit some serious back door legal discussions
in the coming weeks as to how real this administration threat really is.
In the meantime, Daily Line/Break Chart on the Nasdaq 100
shows critical Pattern Support below the market right now at NDX 7835
If 7835 should fail, then a significant top in NDX near 8000 will be in place on the chart,
and the leading technology stocks could suddenly finding themselves
once agin under severe selling pressure.
NDX Last 7954.56
THE_UNWIND
7/24/19
NEW YORK