Tech Stocks Appear To Be Following Year 2000 Waterfall Selling Pattern
Chris Kimble | Feb 24, 2022 02:30PM ET
Weakness in the technology sector continues to rattle the markets as growth stocks get hit.
Today, we take a look at the relative strength (or lack thereof) of the NASDAQ Composite by looking at its ratio to the S&P 500 Index.
As most of you are aware, we’ve shared this chart before, giving warning to the bulls, early this month.
So far, what we’ve shared in the past, continues to play out in similar fashion to the 2000 pattern. Whether it’s a repeat or a fractal (rhyme) doesn’t matter.
A pattern is a pattern, and this has been calling for caution since support broke. And selling in tech stocks appears to be picking up. Is a “waterfall” in tech stock playing out? Stay tuned!
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