Techs falling apart despite overall market stability

Okay, I know it has been a while since I posted anything to my blog. Life is busy and complicated! Looking at the markets today, we are seeing a very interesting divergence between the NASDAQ, which is tech-heavy and is down about 1.75% today, and the S&P 500 and Dow, which are both about flat at the moment. The Dow was up about 100 points this morning, and the NASDAQ was also doing well. Apple rolled over and pushed down significantly, which has led the tech sector lower. As the tech stocks have been leaders in the bull market, and especially in the movement of the major indexes to new all-time highs recently, I think today’s market action is telling. We need to keep an eye on the tech sector – if we see continue weakness, this could be the first signs of a major shift in market direction to the downside. I am about 75% in cash for equity portfolios at-present. I have been anticipating a correction for quite a while, so it will be a welcome occurrence if we see a substantial pull-back for stocks.

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