Time For a Breather:
Or will it be something more ominous? The tech leaders which demonstrated leadership since the 4/7 lows feel they have been wounded. I do not feel it is mortal, but nothing goes up in a straight line, and while it is ok to declare that one would need evidence to back the theory up. For a technician that could come with the presence of bearish candlesticks. The daily chart below of PLTR which was the very first to breakout above a double bottom with handle trigger of 99.09 taken out on 4/23. Four doji candles in the last month, which are adept at signaling potential changes from the prevailing direction suggest some caution here. CRWV, the epitome of momentum in this market, completed a bearish evening star pattern Thursday falling 17%. One caveat is that it recorded one on 5/29 too and a bearish dark cloud cover candle on 5/22 and ignored both of those. Is the third time the charm for shorts to feel validated? CRWD recorded its own doji candle today after a nearly 200-handle run from the very round 300 figure. AAPL, trying to remain at a $3T market cap, posted a sneaky doji Wednesday at a downward-sloping 50-day SMA. And AVGO down slightly after hours on earnings and a healthy tech flush may be upon us.