Will the Recent Rebound in Tech Continue?

Or did it merely work-off its recent oversold condition?

• The bulls are definitely still in charge, but the fact that SO MANY tech stocks continue to respond poorly to their earnings reports/guidance keeps us from saying that the new high in the S&P 500 is a signal that a new leg to the bull market has begun. In other words, the recent bounce in the tech sector might (repeat, might) just be nothing more than a relief rally to work off the oversold condition that had developed in late July.

• One tech stock which HAS reacted positively to their earnings report now stands at KEY technical juncture. So, whichever way it moves over the next several trading days could/should be extremely important for how it moves over the coming weeks/months.