The Semicondutor index is now looking at the 50-day MA for support. This creeping weakness has impacted on the Nasdaq and Nasdaq 100 with the MACD trigger 'sells' in the aforementioned indices.
The Dow is lagging nearly all of the key indices but has now started to outperform Tech markets even on the back of Monday's down day.
Look for further cycling of money out of Tech into the relative safety of Large Caps over the next couple of weeks.
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, stock charts, watchlist, multi-currency portfolio manager and strategy builder website. Forex data available too.