Tech is expected to continue to experience pressure for the rest of the year. NBC News is reporting that the FAANG stocks have entered a bear market, with a drop of 20% or more compared to their 52-week highs. However, Apple and Facebook have been largely over sold and could be a buying opportunity.

Elliott Fishman on Tech

Is tech way oversold? When he sees headlines like “death cross,” it gets his attention. This is when he gets interested in oil and NASDAQ stocks. Tricky to pick a bottom, you have to be patient. The closer we get to a bottom, the more volatility you see.

We can see increased volatility as we get closer to a bottom and it’s not easy to pick a bottom. The recommendation is that at this point you should pay attention to oil and NASDAQ stocks.