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But we saved everything 🙂.
Tech sector sees pullback after extended run, Scott Redler notes
Scott Redler, chief strategic officer at T3 Live and T3 Trading Group, observes that technology stocks showed signs last week indicating it was time to reduce risk following 7-8 weeks of gains.
Redler highlights the focus now on how long it will take for the sector to recover and set up for new opportunities, suggesting that traders should monitor market bounces in the coming weeks and engage in tactical trades as the market searches for direction. He notes that 718 is the 21-day moving average.
Redler previously highlighted losses for late investors after CBRS failed to recover its $350 IPO level. He has also monitored key trading signals in SOXL, focusing on price action near $240 and the 8-day average for potential trends, according to a recent update. These observations add context to his cautious stance on technology stocks.
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