If your outlook is more in favour of bears then the Nasdaq might prove to be better trade. The index had been riding around channel resistance - but Friday' selling has dumped it firmly back inside this channel. As for other indices were was a MACD 'sell' to add to selling pressure, although relative performance was little impacted.
The Semiconductor Index began Friday trading above channel support before closing inside the channel. Unlike other indices, it holds a net bullish technical picture.
For tomorrow, it's a choice for shorts of working with the Nasdaq. Longs can try the S&P, but I suspect this downleg has more to run before buyers step in with any level of conviction. You can find some breadth charts here.
You've now read my opinion, next read Douglas' blog.
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Investments are held in a pension fund on a buy-and-hold strategy.