US Tech Stocks Decline After Midterm Elections

The headline points to post-midterm losses in technology stocks, and QQQ is directly exposed to this sector. The price sits just above the SMA20 (689.5) but clearly below the SMA50 (702.8), meaning short-term momentum is weak. RSI at 47 is in neutral territory with no oversold signal; although MACD is negative and above the signal line, a recovery is not yet confirmed. The 24-hour gain of +0.97% contradicts the headline, so I am keeping confidence in the downside limited. Mild downward pressure or sideways trading is likely over the next 1-3 days; the risk of a slip below 689 should be monitored.

The news headline points to selling pressure in technology stocks and represents a short-term negative signal for the NDX. However, the price closed the last session up 0.97% on the day and remains above the SMA20 (28344), indicating that current momentum has not yet fully deteriorated. The RSI is at 47 in neutral territory, with no overbought or oversold signal. MACD is in negative territory but above its signal line (histogram positive), meaning downside momentum is weakening. A limited pullback tied to the news is therefore expected; if the price slips below the SMA20, the downward direction could strengthen.

NVDA already exhibits a weak technical picture: the price is below the SMA20 and SMA50, MACD is negative and below the signal line, and RSI at 34 is near the oversold threshold but has not yet shown a reversal signal. News of value loss in technology stocks after the interim election confirms the existing downward trend and could sustain selling pressure in the short term. However, the low RSI level also brings a possibility of limited bargain hunting, so although the direction is down, confidence is not very high. In the 1-3 day window, staying below the recent close around $200 and monitoring the 198-200 band as support is critical.