I've previously mentioned at StockTwits and Charts for Charity that rotation back into tech has taken roughly 3 weeks to play out.

This week will be the end of week 3.

Tuesday along with Friday's price action is encouraging that we may have found or are finding a short-term bottom. Bulls will need follow-through Wednesday and the rest of the week for this to be the case.

There are still lots of oversold names in tech that either rejected their key EMAs, or are still below.

The group I look at most, FMAGA, should begin to show signs of turning before the majority of junior tech. $FB closed above daily 50ema and above all key EMAs. $MSFT never lost 50, and now above 21ema. $AMZN reclaimed 9ema, above all EMAs. $GOOGL +50ema, regained 21ema, just below 9ema. $AAPL rejected 9ema.

Obviously, most of the damage was done to $QQQ, which closed below 9ema and needs to repair (TIME). $SPY (chart) and $IWM (chart) rejected their downtrend line, but above all key EMAs.

Bulls must follow through. Or Tuesday, like Friday, was a sell-the-rip day.