Will We see a retest of the 11100 area?

Having cracked the Support Trendline, The support Range, and with all indicators (my bespoke indicators), seems like the Tech100 is heading further south.

But will it continue and crack the next level at 11100? or Will it bounce back from here?


There are a few considerations:

1. New Export limitations on dual use technology is going to prevent the Chip manufacturers and therefore see them trend further down.
2. The tight pockets will see high value sales take a hit.
3. Amazon may see a boost in discounted sales, but seems like more and more people are closing their fists towards main street. this will impact the overall business temperament.


So fundamentals point towards a steady decline!

But, the Gas prices are likely to come down with the Iran deal almost ready to be signed. This will see a drop in inflation which has been mostly energy driven. The Job market has been doing quite well, and therefore the pockets are flush with money!

So many will be tempted to buy at this point.

But, are they catching a falling knife?

Time to investigate more!