Is Big Cap Tech Back??

Tale of the Tape

Good evening, everyone. Today wasn’t a terrible Tuesday, but the Dow and Russell 2000 snapped their 7-day winning streak.

The Nasdaq was the only major index to close in positive territory. Despite the poor tape, the Nasdaq-100 ETF clapped back 0.56%. Is big-cap tech back?? Place your bets…

Communications cruised to new highs. $XLC advanced 1%. Tech wasn’t too far behind— $XLK carried 0.8%. Energy stumbled 2.89%. Industrials, consumer discretionary, and financials all flopped more than 1%.

The cryptos remained quiet. Ethereum is chilling under 2K while Bitcoin bopped around 55K. Could the cryptos crack to the level? Time will tell…

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The FAANG gang all gained. Amazon was the weakest of the bunch, bouncing 0.33% while Facebook flew 2%. See more below.

Discovery continues to dash higher. GoPro galloped 4.73% as the stock is up more than 50% in the last 5 days. 👀

Crowdstrike reported earnings after the close. Listen to the earnings review on tonight’s episode of After Hours.

Here are the closing prints:

S&P 500 3,962 -0.16%

Nasdaq 13,471 +0.09%

Russell 2000 2,319 -1.72%

Dow Jones 32,826 -0.39%

Technology

Big Cap Tech Clapped Back

Big cap tech clapped back despite today’s tough tape. The FAANG Gang all gained. Can big cap tech bounce back to all time highs? Nobody knows, but here are a few daily charts:

Facebook flew 2.02% and closed at its highest price since January 26, 2021.