100 Days Since the Tech Peak

The slow bleed

Yesterday was the 100th session since the Nasdaq 100 QQQ peaked. Yet it isn't even 10% off its high. A lot of things are going on below the surface. Momentum breaking back out to YTD highs right now – that chart is really something else. The ongoing heaviness in Mag 7 continues to feel like a weight on broader markets sentiment; MSFT lower 10 of 12 days, GOOG had worst day since June earlier this week. Let's have a more detailed look at some of the cross-currents in tech.