Time for our weekly tick by tick of charts with Jordan Kotick, Global Head of Technical Analysis at Barclays.
Q. Stocks are under pressure around the world, especially markets like the Nasdaq.
What is your read on this?
A. Consistently since June, Risk in general and equities specifically have undergone a corrective move near the end of the month.
October is no different. While ultimately faded, these moves take time to play out. The Nasdaq being a market leader to the top side and a high volatility sector as well, tends to see the most aggressive move to the top side and the downside