After Scorching Big Tech Rally, One Indicator Is Flashing Sell
- AI buzz, tech optimism drive large bullish bets on Nasdaq 100
- Nasdaq 100 in overbought territory, for first time since Feb
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This year’s searing Big Tech rally is showing signs of overheating, with at least one technical measure suggesting a pullback might be right around the corner.
The stock surges at major technology firms, including Microsoft Corp., Alphabet Inc., Amazon.com Inc., Nvidia Corp. and Meta Platforms Inc. have propelled their relative strength index, a 0-100 gauge of bullish and bearish price momentum, above 70 in recent days.