Is Big Tech Beginning to Break?

[video_player type=”embed” style=”1″ dimensions=”640×360″ width=”640″ height=”360″ align=”center” margin_top=”0″ margin_bottom=”20″ ipad_color=”black”]PGlmcmFtZSB3aWR0aD0iNjQwIiBoZWlnaHQ9IjM2MCIgc3JjPSJodHRwczovL3d3dy55b3V0dWJlLmNvbS9lbWJlZC9rdzJMRnl2OEp4VT9yZWw9MCIgdGl0bGU9IllvdVR1YmUgdmlkZW8gcGxheWVyIiBmcmFtZWJvcmRlcj0iMCIgYWxsb3c9ImFjY2VsZXJvbWV0ZXI7IGF1dG9wbGF5OyBjbGlwYm9hcmQtd3JpdGU7IGVuY3J5cHRlZC1tZWRpYTsgZ3lyb3Njb3BlOyBwaWN0dXJlLWluLXBpY3R1cmU7IHdlYi1zaGFyZSIgYWxsb3dmdWxsc2NyZWVuPSIiPjwvaWZyYW1lPg==[/video_player]

Despite some sell-side activity in the S&P 500, the market made a comeback, although it didn’t quite reach the crucial 4211 mark. There’s a potential for a substantial dip if the market breaks below 4175. Some sectors, particularly financials and the energy sector, exhibited signs of weakness. Interestingly, there was a discernible rotation into areas that had been previously overlooked, such as Walmart and Costco. Shifting focus to big tech, Nvidia experienced sell-side activity. However, there were no significant changes in the option order flow, indicating that this might not be a sign of a serious tech downturn. This observation extends to other big tech companies like Tesla, Meta, Microsoft, and Apple, none of which exhibited unusual order flows. The SPX continues to remain on an 80-point expected move, suggesting potential volatility. However, the current analysis does not necessarily predict a breakdown of the major tech companies, given the state of the current options order flow.

More from TheoTrade

The Boeing Rule That Cost Me $4,000

My First 2 Trades Were Winners. Then Came the Hard Part.

Where Big Money Leaves a Fair Value Gap on the Nasdaq

What Bailing Early Cost My Trading Room

Where the Real Selloff Starts

The Volatility Futures Just Did Something They Haven’t Done In 6 Months


Most Recent

The Boeing Rule That Cost Me $4,000
My First 2 Trades Were Winners. Then Came the Hard Part.
Where Big Money Leaves a Fair Value Gap on the Nasdaq
What Bailing Early Cost My Trading Room
Where the Real Selloff Starts

Get educational market insights sent right to your inbox.

As Seen In