Tech and Market Pullback: $PYPL, $AMZN, $QQQ, $SPY, $GOOGL

Market_Chart
02-06 14:52

Markets are showing broad weakness across tech and large-cap indices.

$PYPL hits its longest losing streak since January 2022, while $AMZN plunged below its 200-day moving average post-earnings.

$QQQ closed under its 100-day MA for two straight days—the first since May—and $GOOGL dropped below its 50-day MA.

Even $SPY has turned red in 6 of the last 7 sessions, signaling that both individual techs and broader indices are under pressure.

Traders should watch key support levels and manage risk as the pullback unfolds.

1. $PayPal(PYPL)$

PayPal $PYPL has now declined for 10 consecutive trading days, its longest losing streak since January 2022 📉📉

2. $Amazon.com(AMZN)$

Amazon $AMZN obliterated in after hours trading after earnings 🚨 Plunged right through its 200-day moving average and is now trading below its 200D by the most since April 📉👀

3. $Invesco QQQ(QQQ)$

Nasdaq $QQQ has now closed below its 100-day moving average for 2 consecutive days for the first time since May 🚨🚨🚨

4. $SPDR S&P 500 ETF Trust(SPY)$

S&P 500 has now traded red in 6 of the last 7 trading days 👻😱📉

5. $Alphabet(GOOGL)$

Google $GOOGL fell below its 50-day moving average for the first time since June 📉📉

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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