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Is this beginning of another correction in IT stocks ??

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Nasdaq 100 Index (NASDAQ:NDX)  
TheStocktrader_Skn  
NASDAQ:NDX   Nasdaq 100 Index
Chart Patterns Technical Indicators Wave Analysis nasdaq NASDAQ 100 CFD niftyit niftyitstocks niftyitshort nasdaq100 NASDAQ 100 CFD
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chartpattern indicator waveanalysis nasdaq ndx niftyit niftyitstocks niftyitshort nasdaq100 nas100
IT stocks are majorly dependent on US market and Nasdaq plays a major role in movement of IT index, so thought to have a look on NDX and the pattern it looking is pretty bearish. Though index is trading at support but if this index failed to hold level then we may see good selling pressure. currently there are 3 negative patterns the index is in.

1. Inverted Cup - Negative
2. Inverted flat - Negative
3. LL - Negative
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