The latter shows a bit of relative strength, while the former looks to break above resistance.
It officially changed from concern over inflation and interest rates to fear of recession, which is causing a change in where traders position themselves.
The SPDR S&P Biotech ETF is one of the better-looking charts on this trader's screen, as is an individual biotech name.
A look at the Russell indexes shows that value stocks suffered in the first six months of 2022 but not nearly as much as growth issues.
A key goal is to keep from losing money while the current bear runs its course, and don't count on positive seasonality leading to the Fourth of July.
However, long-term investors would do well not to try to pick a bottom in the chipmaker's stock.
It wasn't a pretty day for most tech stocks, but it wasn't a disaster, either.
Don't try to read anything into the movement; it is just index adjustments that have nothing to do with valuations or technical patterns.
The sharp downward price action in a number of materials producers suggests traders believe a recession is right around the corner.
Traders would do well to avoid Facebook's parent based on its broken chart.