Loading Posts...

US Technology Stocks – Another Massive Sell-off – Classiarius Views

US Technology Stocks - Another Massive Sell-off - Classiarius Views

A wave of renewed pressure came as Apple and other US technology stocks were hit hard, taking the Nasdaq Composite index to lows and back into correction levels or correction territory. This sell-off comes right as the US mid-term elections come into play as the population views this vote as a vote of confidence for President Trump and the Trump White House. Of course, there could be a vote of no-confidence which ushers in a  blue wave shocking markets as many are surely not expecting such an outcome.

We at Classiarius strongly believe that Nasdaq, the S&P 500 and the Dow are still in price searching mode and the downside is coming again – perhaps buy US stocks on November 12, 14 and 15. Please see our previous articles. We are not giving trade ideas but suggest that a deep sell-off into next week will provide markets with 2 and 3 month opportunities. 

This new selling in Apple and other stocks is no surprise as equity markets, after enjoying a 6 year rally into 2016, saw a Trump tax-cut rally that extended another 20 months. Earnings have been strong and we surely see value in some US stocks. However, this pause, correction or retracement that is taking place is surely not finished. We think that the next 7 to 10 working days will produce high volume selling days – some shockers. 

Some economist are looking at the US China trade tensions as a trigger for another tech sell-off with FAANGs and other names, especially those in the supply-chain coming under pressure. Some of these name faded by 2.0% to 5.0% over the past 48 hours. Keep in mind that supply chain firms cannot move their facilities out of China to other countries right away – it takes 3 to 4 years for such a transition. 

US equity stocks – more downside this week and next. 

We will be updating – Team Classiarius 


The author didnt add any Information to his profile yet

Classarius is the only data driven news for blockchain, cryptocurrencies and technology from investment professionals.
Disclaimer: We do not provide investment advice or strategies, this article is not intended as such but only to provide you the reader with information. Please conduct your own research before any investment of any kind.

Classiarius Guest Posts
Classiarius allows guests to write articles on blockchain, finance, and analysis on technology, political risks and crpytocurrencies. You may include links to your previous content in your articles. Write Guest posts
Loading Posts...