Thursday’s sell-off chopped the top off the recent rally for the market, hitting the red hot tech sector particularly hard. Technical factors showed that some of those stocks were due for a pullback, according to Bespoke Investment Group.

The tech-heavy Nasdaq Composite, which had risen more than 30% so far in 2020, sank nearly 5%. Several major tech stocks were in Bespoke’s list of the top-40 most overbought stocks as of Monday, including the most stretched out name on the list.

– CNBC