There’s damage to individual stocks–like Amazon–below the surface of this market volatility

There’s damage to individual stocks–like Amazon–below the surface of this market volatility

If you look just at an index like the NASDAQ 100, an index dominated by BIG TECH, the volatility of the last month hasn’t done much damage. The index closed today December 21 at 15,986, up 3589 points. That’s almost exactly–with the difference in the decimal points–where the index stood on November 10 when it closed at 15,986. The index did drop through support at the 50-day moving average yesterday but rebounded to the upside today to clear resistance at 15,921. See nothing has happened! But you get a different picture if you look at the shares of a market leader such as Amazon (AMZN).