The main stocks affected by this index decline constitute a significant sample. On the weekly rolling sequence, Symantec dropped 17%, Tripadvisor 14.5% and Intel 12.6%. The tech giants are not immune to the slump, as Apple, which is deteriorating by 7%, as well as Amazon (-6%) and Facebook (-5%).
Graphically, in hourly data, the prices, after doubling the upper line of 2945 points, fell sharply, losing 150 points in a few sessions. The withdrawal movement took place until the 2800 points were supported. At this stage, a buyer consensus is tentatively emerging to allow a short-term rebound in the S&P500.
The extension of this recovery phase can be up to 2850 points or even 2900 points, the price zone of the 20-day moving average. The recovery will be limited anyway. On the other hand, a break in the 2800 points will boost the index in a negative dynamic towards 2740 points.