Overnight we saw US tech stocks post a slight fresh 12-month low, not a great vote of confidence in our view but things do look their worst around bottoms. At this point in time we are going to fall back on simple technicals to identify the risk / reward towards our short term bullish stance on tech – a move back above 13,100 will trigger a buy otherwise it’s a wait and see.
MM is bullish the NASDAQ 100 if it rallies back through 13,100
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