More of a tech wreck yesterday. Many are out saying it is nothing…it is a blip…just buy. That’s fine. We hope they are right. But evidence in so far is the big money is now selling growth and parking the money in value. We suspect that is something that only lasts a couple of days.
There are many chart breaks on a short term basis…but also on an intermediate and possibly a longer term basis. At the very least, many of these names are going to need time to repair themselves.