Nomura's flagging clear signs of capitulatory selling across tech, and the read here is that's probably right, but we're not fully there yet. Market maker positioning into Wednesday's FOMC is still ominous: no hike likely gets a positive reaction that fades into bear flags through mid-August before any real rally, a hike sends things straight into $QQQ's 200-day ema, maybe through it. Watching the reaction here, not fading the first pop either way.
Aggregated and distilled by Two Sentence Traders. Not financial advice.