Technology-Driven Selloff Isn't A Concern....Yet

Time to close downwards Twitter in addition to Facebook, possibly a fight of divestiture activity for Amazon in addition to the Goog and...ahh it's proficient to live on king.
The slice below was written pre-market in addition to doesn't address today's drawdown's simply makes around interesting points.

From StockCharts:

Market Recap for Wednesday, September 5, 2018

There were a dyad things that stood out to me regarding Wednesday's action.  First, the recovery off the intraday depression wasn't insignificant.  However, the stocks driving almost of the recovery were inwards defensive areas.  Utilities (XLU, +1.40%) in addition to consumer staples (XLP, +1.15%) were the entirely 2 sectors to gain to a greater extent than than 1% in addition to both are defensive groups.  Second, piece the rebound inwards our major indices was fairly rigid later heavy outset lx minutes selling, the NASDAQ's rebound was non rigid at all in addition to the argue was clear.  Technology (XLK, -1.25%) in addition to consumer discretionary (XLY, -1.08%) were the entirely sectors to run across much selling at all in addition to both were downwards to a greater extent than than 1%.  So in that place seemed to live on quite a fight of rotation from aggressive areas to defensive areas.  Keep inwards hear that both the XLK in addition to XLY of late spiked into all-time tape high territory in addition to thus turn a profit taking is to live on expected.  I wouldn't outflow off the nearest span because these 2 groups underperformed for a day, simply continuation of this tendency during the bearish calendar month of September is worth monitoring.

Software ($DJUSSW) in addition to network ($DJUSNS) were the principal reasons that applied scientific discipline was in addition to thus weak.  And in that place are reasons to fearfulness farther selling inwards both manufacture groups.  Let's start amongst the DJUSNS:

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