Something just happened to this market, and it came out of nowhere (and there lies the problem).
Earlier today the stock market roared higher with a triple digit gain on the DOW. Then, seemingly out of nowhere a hard core selloff in the tech sector began. At the time I am writing this article, Apple is down almost 4%, and this selloff is consuming the entire tech sector-which has been a market leader for the last several months.
**This seemingly from out of nowhere selloff in the tech sector is alarming, because this is generally how market corrections (and crashes) begin, again from seemingly out of nowhere when everything seems to be moving along just fine.
The selloff in tech is something that we must pay attention to, because this has the potential to bleed off into other sectors, starting a cascade of events which could wreak havoc across the capital markets.
Gregory Mannarino
