“Momo Massacred, Tech Wrecked, & Bond Yields Battered”
by Tyler Durden
"Today's fun and games started with comments from Wilbur Ross on "emergency" curbs on Chinese investment but then a series of headlines on megatech - NVDA self-driving car suspension, TSLA NTSB probe, FB hearings and more headlines, and GOOGL and TWTR being dragged into the furore. All in all - a bloodbath!
Click image for larger size.
What goes up (on low volume) collapses on heavy volume... (Nasdaq - green, was worst; The Dow - blue, managed to hold some gains)...
Failed rally: "This is the final push higher, which upon its turning lower causes many market participants to being capital protective selling, that causes almost all assets involved to be sold in the hopes of avoiding more losses. And a panic ensues." Please view the original article, with many more graphs, at the link below.