Friday's afternoon collapse of the tech sector was unusual to say the least. It was not a broad based sell-off. And while the late afternoon swoon took the Russell and S&P500 off their session highs, they both more than held their own despite the sharp move lower for the Nasdaq. Is this the start of a correction?
Weekend Reads and Charts
On Tuesday the Nasdaq hit a new all time high. Just one day later the bull market ended. It's over folks. It's time to pack up and head home. Yesterdays 2% decline was the final nail in the coffin. That giant 'Final Wave'???? ....... it's here, grab your boogie boards.
Just like the Trump drama is tremendous for the News networks, stock market declines are like car wrecks on the highway, everyone has to stop and look. When the markets flashed crashed , every news truck north of the Great Wall of Mexico was down at Wall Street covering the 'chaos'. On Tuesday with the Nasdaq at all time highs and not a news truck to be found. Go figure.
Friday Morning Reads
Thursdays Market Prepper