Recent selling in the stock market has caught tech stocks in the crosshairs.
This has been a bit of a theme to start 2022 as tech stocks, small caps, and growth-related names have been hit hard.
As you can see in the chart below, the Nasdaq 100 ETF (QQQ) has broken its short-term up-trend and momentum has turned down.
A recent review of the top 10 holdings of the QQQ showed that they are all in vulnerable positions (some worse than others).
I see more downside ahead and have targeted the $323-$327 price area.
Nasdaq 100 ETF (QQQ) Chart
The author or his firm have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
