MKE Technical Research Regional Traders’ Almanac 20200914 Tech Stocks Bubble or just a Healthy Correction? For the first time since the Mar-20 low, the NASDAQ Index has broken below the uptrend line. Despite the euphoria rally in Tesla, a major chunk of the index weightage comes from Apple, Amazon and Microsoft. Baring Apple, both Amazon and Microsoft already traded below the 50-day EMA line thus could keep the overall pressure on the downside. We don’t think this is a” bubble” although the current correction is set to continue. We expect the index to test the lower support at 10,300 and 9,700 in the short to medium term. #NASDAQ#