Nasdaq has been the most pressured index among all in american market. Today it dropped 1.7% while S&P500 dropped 1.37% and Dow dropped 0.89% at mid noon now.
You may wonder why?
Do you remember that a few days back, we did mention that tech sector in our market sentiment indicator has turned bearish. This is because the tech stocks has generally turned bearish.
Look at our market sentiment indicator:
(Please note that NYSE stocks sentiment indicator has turned BEARISH. This may be the start of a bearish run in US. Just be careful....)
You can see it reflecting in the Nasdaq index now as most are tech stocks. Apple, a tech stock, has also touched and broke $400 briefly.
With more earnings coming from tech stocks, I am really taking a close look at what are the tech stocks that fall below expectations and these are the potential shorting targets!