
With the benchmark indices in the red in 2025, the “R” word is popping up again in headlines, recession. The SPDR S&P 500 ETF Trust (NYSEARCA: SPY) is trading down 3.77%, and the NASDAQ 100, as tracked by the Invesco QQQ (NASDAQ: QQQ), is down 5.94% year-to-date (YTD) as of March 21, 2025. While leading on the way up, the computer and technology sector, tracked by the iShares U.S. Technology ETF (NYSEARCA: IYW), has been leading on the way down, indicating losses of 8.33% YTD, also as of March 21, 2025.
We covered the crucial 200-day moving average support levels that the benchmark indexes needed to hold, which they broke.