A trader works at the New York Stock Exchange NYSE
  • The Nasdaq 100 just flashed a technical "sell" signal ahead of Nvidia's big earnings report, according to Fairlead Strategies. 
  • The sell signal reflects a loss of momentum and suggests "several weeks of corrective action, at a minimum," Fairlead's Katie Stockton said.
  • Stockton highlighted 13,834 as support for the Nasdaq 100, suggesting potential downside of 6%.

Technology stocks are poised for more downside after the Nasdaq 100 index flashed a technical "sell" signal, according to Fairlead Strategies' Katie Stockton.