Hard to be bullish but hope is coming....

It's hard to find a tech stock in a bull market (by SentimenTrader)

Stocks have been walloped, and none more so than in the Technology sector. With further selling this week, fully 90% of S&P 500 Technology stocks are down 20% or more from a 252-day high, the common shorthand of a bear market. It has gotten this bad only one other time since the Financial Crisis. After similar signals since the 1950s, the Technology sector showed positive returns across all time frames, though they tended to underperform the S&P 500 up to a month later. Several cases like 2007-08, 2000-02, 1973-74, and 1968-70 maintained a high level of stocks in a bear market for a significant amount of time, especially 2000-02. But those were the exceptions.

What the research tells us

90% of S&P 500 Technology stocks are down 20% or more from a 252-day high. After similar signals, the technology sector showed positive returns across all time frames. On a relative basis, technology stocks underperformed the S&P 500 in the near term. A year later, technology stocks were higher 88% of the time.