Tech was the clear laggard: CNBC notes information technology shed more than 3% in the week of Aug 17-21, and July FOMC minutes released Wednesday showed officials warning rates "may need to rise soon" unless inflation cools — a headwind specific to high-multiple tech. QQQ broke down from 732 to 713 with a lower-high pattern, and the next real bullish catalyst (Nvidia earnings) is not until the week after next. With hawkish minutes still fresh and momentum negative, I expect continued near-term tech softness, so down.