Tops are processes...US Tech Market Analysis

Tops are processes. If you have been in the game long enough you know that true bottoms are capitulatory lows and tops take a long time to form.

I think we have the beginning stages of one here. (May take months)

Here is our current snapshot of the NDX100 where we have a clear outside reversal top on the weekly chart with some of the largest negative divergences I have ever seen. I believe you are going to see this break lower and the only thing holding this baby up is big momma AAPL and AMZN.

If we scroll out you can see it even more clearer.

The rate of change is getting drastically close to wavering when the momentum indicators are this overbought for so long. I AM NOT CALLING A BEAR MARKET HERE, yet.

What I am doing is wondering why EVERYONE and their grandma are buying FANG and chasing things higher when they WILL come down. Things go up and things go down. Have a little patience here!

I have have multiple people tell me FANG is a BUY LONGTERM. Are you kidding me? or do you not understand what “LONGTERM is”.

Take a look at these and tell me these are Buys RIGHT NOW long term....

FB - Looks the worst of them all and like absolute dogshit. Monster outside monthly reversal.

AAPL - Best on earnings but iPhone sales stalled. It can’t hold up EVERYHING by itself forever

AMZN- Best on earnings and AMZN and AAPL are the last two that retail joe is flooding into here.

NFLX- Topped and coming down to 381. Hell it looks the best and still is crap!

MY POINT IS IF YOU ARE LONG TERM, Why are you buying that AMZN and AAPL chart? Be patient grasshoppers.
The Dow is up a WHOPPING 500 points this year and people are bullish as shit. Don’t get killed like all the “longterm retail Joe’s” are about to.