As I mentioned in my memo Tuesday, the bulls need to see some follow-through.

That didn't happen with tech, but $SPY, $DIA and $IWM continued their moves to the upside.

As for tech, I look at $OKTA as a key to the sector because it is emblematic of junior tech. Notice where price was rejected? Right at the 9ema, even though it had a decent gain on the day.

While $QQQ did not have a cascade down, a rejection of the downtrend line and EMAs provided some slippage. The Qs are now sitting below the 9ema making the remainder of the week appear in peril.

Time will be needed to repair tech's fall off. Time will not resolve at the end of this week, nor will it provide a magical springboard. Monday's lows give traders something to shoot against but that level must hold or time will be reset.

Looking at the NQ I want to see closes above 12800 for me to feel eager to add to more longs in the sector.

Stay nimble or sit it out! 😂

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