The stocks that for years were the market darlings have suffered through a rough year.
There are a couple technical reasons to think that a short-term dip in stocks produced by Amazon's disappointing results could attract buyers.
Amazon's latest results weren't bad, but its outlook is far from encouraging.
It's hard to know, though it is encouraging that the major indexes are holding up fairly well even as the technology leaders are blowing up.
A handful of stocks have been basically sucking all the energy out of the rest of the market for years.
We'll see if this is a sign of things to come for the broader market or just stocks catching up to the downside after being overpriced for so long.
Let's look at the possibilities.
This is a very unusual divergence and is likely to be a very messy and volatile process.
While performance is fine and the business is growing, NOW did miss consensus across several metrics and even took guidance below expectations.
It might be better to let the dust settled before making any moves.