NASDAQ 100 LEADS MARKET LOWER AND FALLS FURTHER BELOW ITS 50-DAY AVERAGE

NASDAQ 100 FALLS BACK BELOW 50-DAY LINE...  Chart 1 shows the Invesco QQQ Trust losing -2.8% today and falling further below its 50-day moving average.   Technology was the day's weakest sector along with consumer discretionary stocks.  Eight of the eleven market sectors ended lower.  More cyclical parts of the market actually gained ground which include energy, financials, and industrials.   The last two actually touched a new record.   Today's action appears to be a continuation of the recent rotation out of technology growth stocks into more economically-sensitive cyclical stocks.   The Dow and S&P 500 also lost ground but held up better than the Nasdaq market.   Another uptick in bond yields may have contributed to some of the day's technology selling.