The End of Tech?
Today I put forth a more interesting question as the market continues to test its own moving averages and support areas; has the technology sector seen its last light? After breaking out not even a few weeks ago, a good majority of the leaders have all come down to test moving averages. Today, I have to show charts of Google (GOOG), Apple (AAPL), Cisco (CSCO), and Intel (INTC). What you want to view within these charts is the stock price relative to the 50 Day Moving Average, or 50 DMA. Click the thumbnail image to see the bigger view of the stock’s chart:
All of these big players are sitting right near that blue 50 DMA line, and in my opinion how these stocks react to them will signal the future for the rest of the sector. Take a look at my post on the NASDAQ and you can see the same similar story appearing here. If the 50 DMAs fail, you may see the bull train fall off the end of the cliff. But, I am sure I am not the first one to post that caution sign. On the flip side, if this moving average holds up for the majority of the stock above and the NASDAQ, we may be in for a buyers surprise.
