News overnight that the US Justice Dept is now actively looking into big technology for anti-trust violations has reopened fears that the so called Fang Stocks Apple, Amazon, Facebook, Google, and Netflix that make up 25 % of the Nasdaq 100 could be soon be under some serious new selling pressure as big money looks to sell first on the news and ask questions later.
The fact that the current administration is so determined to hurt these technology companies because they have grown as they say "too big", should merit some serious back door legal discussions in the coming weeks as to how real this administration threat really is.
In the meantime, Daily Line/Break Chart on the Nasdaq 100 shows critical Pattern Support below the market right now at NDX 7835
If 7835 should fail, then a significant top in NDX near 8000 will be in place on the chart, and the leading technology stocks could suddenly finding themselves once agin under severe selling pressure.