Thoughts on US tech stocks and the Nasdaq 100 heading into the weekend

As the global markets head towards the weekend and European stocks drew towards what is the close of one of the most turbulent weeks in living memory, the US markets are showing signs of exhaustion. I do not mean directionally either, I mean just pure exhaustion. The price action is beginning to look a little less volatile and most likely for only that reason. Maybe even some of the robots that control that price action are burnt out? So, as the weekend approaches where next for the Nasdaq 100. Is it a buy on dips, or a sell on rallies? Have we seen the bottom now, or is there more to come? Well, index fell to 16,542 at one point on Monday and rebounded to as high as 19,234 on Wednesday. The index opened today at 18,309 and the range so far is covered by 18,153 to 18,502. As noted here, the rebound back above 19k from the lows filled the yawning price gaps it had left open on the daily bar charts on the way down and actually little more. The index is camped well below its 200 day moving and unless back above that (it is now at 20,765) it seems wrong to talk about a trend change yet. The Nasdaq 100 is currently trading at 18,245