With interest rates creeping higher, the tech stocks have been slowly suffocating. As a chartist, I am particularly excited to see major trendlines starting to break, such as the NASDAQ Composite:
The semiconductor index also cracked its trendline, thanks to weakness in MU and JBL:
The last man standing is the NASDAQ 100. All we need is one medium-weak day, and this can join the party as well.
