NAS may need a rest this week.

The NAS has coming into trendline and shorter term fib resistance at the same time that the ES/SPY and DIA look poised to move higher. I would not be surprised to see a little rotation out of tech into the industrial/ value names again. My near term target for the NAS is the upper red box on this chart. It just may not get hit this week. With the FED meeting out of the way we may fall into a bit of a holding pattern until earning season kick off again.

Comment:

So for the moment NAS is showing strength. Worries of the Delta variant are proving positive for tech. Bad news = good new for the time being. Still remain cautious adding new positions to the tech side right now.