Wednesday's Market Minute: Tech Weakness In Sell-Off

The four major indices (/ES, /NQ, /YM, and /RTY) all took out last week’s lows yesterday, with investors expressing concern as optimism related to U.S./China trade talks is waning. Keep an eye on the tech-heavy /NQ, it appears to be struggling recently and should be watched closely.

Tech has been an integral part of the broader markets’ ability to hold near all-time highs amidst global growth concerns. The move lower is the first sign of directional conviction we’ve seen in weeks and while geopolitical unease remains a focal point, this week we have some closely watched numbers coming out.

In addition to multiple Fed speakers tomorrow, we get GDP, and on Friday, we have Durable Goods Orders and Personal Income and Spending data. These all could provide insight into the health and well-being of the U.S. consumer (especially after yesterday’s disappointing Consumer Confidence release that fell from a prior 135.1 to 125.1).

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