Stocks cooled off from their 15-year highs as Bitcoin took a hit today, historically retreating to lower levels following heightened momentum. The timing of this pullback is uncertain, but the trend is undeniable.
Large-cap Tech stocks led today's drop as investors are worried that the Federal Reserve will withdraw stimulus support for the economy.
Tech stocks are the most expensive names on Wall Street. So for these stocks, traders and investors price in future earnings at high levels. High interest rates affect the profitability of companies, so Tech stocks take the biggest hit when inflation worries increase. In today's video, I'll go over why the stock market is pulling back… why the focus is on the large-cap Tech… how momentum levels can influence market action… which sectors are bullish and bearish… one pullback opportunity on a crypto ETF… and two short trade opportunities in weak Nasdaq stocks.
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