April 21, 2022, 2:29 pm EDT
Breakdown Warning for the Technology Stocks
The stock market gives us a breakdown warning for the technology stocks. As shown in the Nasdaq-100 ETF (QQQ), 337 level is being challenged and tested. Once it breaks, QQQ will head down toward 320, its March low or -20% bear line.
Looking into the charts of Google (GOOGL) or Meta Platform (FB), it is easy to see that those mega technologies are struggling at the last defense of the new local low lifelines before earning reports. Amazon (AMZN) and Apple (AAPL) are in better shape but they are also vulnerable. Strong earnings did not help Tesla (TSLA) too much as its gains are fading away quickly. Imagining a disappointed earning would cause a plummet -40% down like Netflix (NFLX) if the numbers do not look good.
Overall markets reversed lower to issue a warning signal of coming bear markets. Please be prepared for a major sell-off when Nasdaq makes a new recent low that would trigger a large-scale drop for the entire market.
There is an article about the 04/18 Survival Handbook for you if needed.
