In this week’s video, Mike Cintolo talks about the sharp selling this week--while the long-term looks fine, the Nasdaq is already close to a re-test of its August closing lows and many old leaders (especially chip stocks) look sick. What does it mean? Mike rules nothing out, including a quick re-test (the timing of it for the Nasdaq looks right) that leads to a rebound, but with the breakouts he was hoping for running into trouble, he’s in a cautious stance, preserving capital for the next sustained upmove.
Stocks Discussed: ARGX, NTRA, GWRE, IOT, CWAN, DASH, PLTR, HALO, RKT, DHI
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