The NASDAQ index is now down over -1.25%. The declines are being led by some of the high beta stocks that have benefited of late including the chip stocks.
- Broadcom is trading down near 4%.
- Nvidia is down -3.93%.
- AMD is down -4.45%
Looking at some of the other losers today:
- Meta--2.56%
- Tesla -5.3% as the war of words intensifies once again between Trump and Musk.
- Palantir -4.98%
- Crowd Strike -4.4%
- Super Micro Computer -4.31%
- Palo Alto Network -4.02%
Technically, the NASDAQ index still remains well above its 100-hour moving average at 19789.56. The low price today reached 20105.42. Moving back below that moving average would be needed to increase the bearish bias. The 200-hour moving average is at 19503.56. Back on June 23, the price got within sniffing distance of the 200 hour moving average but found willing buyers.
