It has been an impressive week for the Nasdaq as the technology-weighted index soared to a new all-time high last Thursday to touch 7,768 before pulling back slightly in Friday‚Äôs tariff-related sell-off.
In all actuality though, most tech stocks are behaving very well when it would seem only natural that traders would be inclined to lock in gains going into the weekend. A modest pullback only refreshes the powerful breakout for the Nasdaq as the second quarter ends in two weeks.
Fund managers are sure to window-dress their portfolios with plenty of winning tech stocks in the days ahead. That practice is a tradition as each quarter nears an end.