While the rest of the market slept, the Nasdaq got kind of scary this week. Stocks like Google (NASDAQ:GOOG) and Amazon (NASDAQ:AMZN) kept dropping, as the market has become very bifurcated.
However, I’m inclined to stick to my head & shoulder thesis, if you’ll allow me to add one more shoulder. That’d be unusual, but I’ve seen it before, so let’s hope this exception means a bull market can return to tech stocks.
Speaking of tech stocks, Twitter (NYSE:TWTR) certainly has my number. I believe in the stock, but it’s really putting a hurt on me. Still, a bounce off the downtrend line tells me it may – finally – work its way back up.
On the flip side of Twitter is Digital Realty (NYSE:DLR). That stock has been nice to me, but I’d wait for one more breakout before buying. There’s plenty of upside left after that.
Back next week to see if the Nasdaq did any healing.