What the hell happened to Tech? Especially
$GOOGL $AMZN
Well a few things
$AMZN Ran up nearly 7%+ in the last week nearly flipping a very big level that could've took it another 20%+ higher the following 6-8 weeks
$GOOGL Also ran up 11%+ in the last week nearly triggering a bigger breakout that could've seen 400+ following 4-6 weeks
Now today? They've flopped but not completely
We have a massive Xi Summit catalyst where all Tech CEOs will attend starting today & tomorrow.
Sell the news? Likely yeah and bad timing too
Is this a buyable dip? I absolutely think so. Many are feared of seasonal weakness in beginning / mid Q4 and mid-terms coming up but the opposite usually always happens.
Volatility is sky high the last month and as we inch closer to Mid-terms and a new Quarter. I think it's worth taking advantage of the discount & fear.
$GOOGL to 400+
$AMZN to 300+
Someday soon.