Record Tech Selling, VIX Explosion... Who Is Blowing Up?

The NDX puke

NDX has sold off sharply, closing below its 100-day moving average yesterday. Zooming out, however, the index is still trading within the range that has been in place since May, and we haven't even reached the lower end of that range yet.

Note that the longer-term trendline and the 200-day moving average sit slightly lower, providing another potential area of support. Meanwhile, RSI is approaching extremely oversold levels.