Tech & Mega Caps Stocks Face Early, Persistent Weakness

It’s another fluid, fast-moving morning. In early trade the market picked up right where Friday Afternoon’s Update left off: what began as a one-day rebound from Thursday’s oversold internals, quickly flipped into a one-day overbought condition, coinciding with weakening conviction in the session’s momentum (as indicated by 3C). SPY (1m) shows the transition Friday afternoon…