9 days ago • Posted by William Ramstein

Tech: continued selling in July, after being bought in May and June

A closer look at performance shows more weakness among tech (and the market as a whole) when one removes the mega cap stocks. Indeed, "Expensive Software" underperformed the S&P by >5% over the past 5 days and High Growth also underperformed by over 3%. However, it’s not just expensive stocks that are being sold…Mega Cap Tech continues to see profit taking MTD, after having been bought in the prior two months. Chinese ADRs also saw a second week of net selling, despite them bouncing back. Source: The Market Ear