January 31, 2022, 3:41 pm EST
Technology Rebound
Technology-focus stocks of Nasdaq-100 rebound today that contributed +2.8% gains for the Nasdaq index. Deeply oversold stocks like NFLX, TSLA, XLNX BIUD, JD, NVDA attempted to climb up after struggling most of the days in January.
However, it does not change the big picture where Nasdaq is still far from its 200 day-moving-average lines. It means the bearish bias still applies to Nasdaq. Although Dow Jones and S&P 500 barely reclaimed their 200 DMA, there are still vulnerable at this moment. Since Amazon and Google are going to report their earnings this week, we could get a better understanding of the reactions after the reports.
Stay cautious.
