Tech stocks slip as investors’ bet on a US recovery favors traditional sectors in their asset rotation.
The recent peak above 14000 could lead to a pullback as investors may think twice before chasing higher highs. A quadruple top near 14050 and a repeatedly overbought RSI are a sign of exhaustion.
After a halt at 13950 a breach below 13720 triggered a sell-off exacerbated by profit-taking. This would add pressure on traders who are still on the long side. 13340 would be the next support level.
