The Nasdaq is down premarket Thursday following earnings reports from Tesla and Netflix after the close Wednesday.
I hate to say I told you so, but I’ve been mentioning that the tech sector isn’t as strong as it appears on the surface.
There is likely to be a heavy weight on tech today in addition to Communication Services and maybe the Consumer Discretionary sectors.
There aren’t any more big tech earnings coming today to be a catalyst, so I expect some downside.
However, I still like the Industrials, Financials and Real Estate sectors, with an existing home sales report coming today.
There’s also one sector I’m starting to really like, so check out today’s all-new Premarket Must Watch video!
I’ll also cover whether weak tech earnings will pull the tech sector lower… if bonds have more upside momentum… the top earnings we need to watch today… an update on the global economy… and an update on Federal Reserve data.
P.S. This Rare Event Has Played Out 9 of 9 Times Since 1953. And It’s Happening Again NOW
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The S&P 500 is now 20% off the bear market lows… And dating back to 1953, following every recession — 9 of 9 times without fail! — we’ve seen something called “The Great Divergence.”
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Hedge funds have been loading up on this ticker…
