After Worst Start For Mag 7 Since 2020, Goldman's Top Tech Trader Turns Bearish

By Peter Callahan, Goldman Tech/Media Specialist

Following a convincing technical ‘fail’ at the 200-dma last week (red line chart below), TMT looks set to close out 1Q’25 on a tough note  – NDX down ~8% in March (worst month since Dec’22), and, down ~8% on the quarter (worst quarter since 2Q’22).