NDX / COMP ratio on this drop is 65% rather than the normal 75%-80%. That indicates either there is rotation into "safer" large cap techs, or this drop is nearly done with.
I would lean towards rotation, which still bodes well in the intermediate term. If this was a fresh move down with nasty bearish indications over the next few weeks, I believe the NDX would be leading with a ratio above 80%.
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