It's not a good idea to try and figure out where this market is going to go next. Selling was profuse yesterday and the uptrend in the NASDAQ is now at risk of breaking down into a primary downtrend.
That said, every single time this sector has threatened over the past few years, it has fooled shorts and rallied. Will this time be any different? Only the mythical crystal ball knows.
Forget about trying to figure it out.
Meanwhile, run with what is working. After yesterday's session, downtrends in a broad number of declining sectors resumed offering shorting opportunities for the agile.
Once again, forget about working on the stocks in the middle and focus on the extremes. 52-week lows should be your mantra here.
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