Trouble brewing in Big Tech

The banking collapse has me concerned ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ Trader , Banking was my business for nearly 30 years. I’m not going through my whole resume, but I’ve held positions from analyst to COO at some of the world’s largest financial institutions. Citigroup, Barclays, Al Rajhi Bank, and Bank of Montreal, to name a few. I’m a retired insider. The recent collapse of Silicon Valley and Signature Banks and the liquidity crisis of Credit Suisse has me deeply concerned. It takes time for high interest rates and QT to cause damage. And there will be lasting damage to the economy. In 2008 it was the housing bubble collapse that started the tumble down. This time, the cracks are showing first in the financial sector. It’s easy to dismiss a couple of banks going under as poor management or isolated cases of fraud. But the average person doesn’t understand just how interconnected our economy is. As a result, the failure of one sector inevitably leads to problems in the rest. Banks are the canary in the coal mine for something more significant. Big tech will take a massive hit this year. Many might dismiss this as big names like MSFT, GOOGL, AAPL, and META have already been beaten down since January. These can’t go any lower, right? Shouldn’t I "buy the dip?" If you don’t think so, head over and [watch Mike Carr’s insightful video]( )on the future of big tech this year. His banking crisis prediction has already come true, and I think he’s also right on this one. I always like to look for confirmation of my theses on the chart. As a technical trader, that’s just how I operate. Take a look at the NASDAQ (QQQ) chart below: We see a classic pattern of something in a clear downtrend. Notice the lower highs marked with red X’s and where we are this week. Sitting directly under the red resistance zone. The orange bar from last week indicates lower prices to come. So I see two scenarios playing out. We break upwards and retest the $330 resistance before breaking down to about $250.00, or else we cut straight through and land up there straight away. The timing…well, I don’t know. It will likely have much to do with what the Fed says next week. But I’m in Mike Carr’s camp on this one; I see a rocky summer for technology stocks. Cheers, You’re receiving this email because you signed up for alerts from Hood Talk. Make sure to keep them coming by [whitelisting Rogue Investing]( ). The information in this email is intended for informational purposes only and does not guarantee specific results as there is a high degree of risk involved with trading. Also, our traders are real traders and may have financial interests in the companies discussed. Please see our [Terms and Conditions]( ) for more information. Sent to: {EMAIL} [Unsubscribe]( ) Rogue Investing, 721 Court St., Unit #1, Lynchburg, VA 24504, United States