What technical trends are US tech stocks showing?

The technical trends for US tech stocks are currently showing signs of easing upward momentum and potential consolidation:

1. **Nasdaq 100 Index Trends**: The Nasdaq 100 Index has been experiencing a rise, but recent indicators suggest easing upward momentum. Key levels to watch include 19,500, 18,900, and 18,400, which could act as support levels. A potential price target is around 22,000.
2. **Stock Performance and Volume**: While the Nasdaq 100 has risen nearly 8% in the second quarter, trading volume has declined, indicating reduced buying pressure. This divergence between price and volume suggests a potential slowdown in the tech sector's upward trend.
3. **Resistance Levels**: The index faces resistance at the 19,500 level, which was a previous high point. Breaking through this barrier could lead to a positive rally, but sustained growth will depend on overcoming 20,000-level resistance.
4. **Moving Averages**: The 50-day and 200-day moving averages have been important support levels. The index has traded above these averages, but a recent pullback tests the 50-day MA, which could be a point of interest for buyers.
5. **Relative Strength Index (RSI)**: The RSI has shown a bearish divergence, indicating that the price may be losing upward momentum. An RSI below 30 could suggest an oversold condition, potentially leading to a rebound.

In conclusion, US tech stocks are showing signs of easing upward momentum and potential consolidation. While there is still a positive outlook for the sector, the recent slowdown in momentum and the need to overcome resistance levels suggest a cautious approach for investors.