The six tech giants have lost a combined $4 trillion in market cap since their respective peaks. The entire S&P 500 was ~$12 trillion just a decade ago.
If the leaders are falling, you know the rest of the bunch already got washed out. Indeed, only 8% of the Nasdaq-100 is above the 200-day moving average.
Using extremes in a bear market as a contrarian buy indicator is unreliable in the short term. What looks like a…
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