Long term players do not look at the charts like the active traders. They care much about the trend and the long term averages. Here is a chart of Amazon, Microsoft and Intel with their monthly 12, 24 and 36 period simple moving averages.
Are these long term players concerned?
Hint: Of course they are since the beginning of this year. That’s why we have this sell off.
The more important question: Are they willing to buy these market leaders now?