The recovery in tech stocks in the US proved to be weak and short-lived. NASDAQ hit 7036.09 initially but failed to sustain above 7000 handle. It closed down -59.58 pts or -0.85% at 6949.23. Near term direction is still on the way down considering it’s staying comfortably below falling 55 H EMA. Note that it’s now trying to sustain below 61.8% retracement of 6630.67 to 7637.27. Next target will be 6630.67 key structural support.