Tech & Nvidia Down Sharply! What’s Next?

It’s been a brutal few weeks for equity markets in general, and tech in particular. Last week, the Philly SOX fell 12%. The index is now down over 20% from its mid-July record highs. The NDX100 also had a tough week, as it sold off by 6%. Nvidia and key semiconductor stocks were at the centre of that global weakness. Taiwan’s TSMC had a tough week; Holland’s ASML (another semiconductor stock) similarly struggled. With that, though, parts of the market are now starting to look overextended to the downside, especially on the short term 1 – 2 week ‘swing trader’ timeframe that we focus on in this publication. So, the question is: what’s next? Should traders be LONG or SHORT equity index futures at this juncture. That’s what we dig into in this video.