Barrister Global Services Network Inc
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Company profile

Barrister Global Services Network, Inc. is a provider of provides multi-vendor information technology (IT) services. The Company serves customers in commercial, consumer, educational and Governmental markets through direct and indirect channels. The Company's services range from onsite break/fix hardware repair and per incident on-site hardware repair to managed help desk and equipment installations, de-installations and disposals. The Company supports its retail clients with point-of-sale (POS) and kiosk services ranging from deployment, to installation, to ongoing onsite maintenance and hot-swap services. The Company delivers full service maintenance covering both in-warranty and out-of-warranty multi-vendor equipment. Services include remedial maintenance, replacement parts and technical support. The Company offers full service maintenance for multi-vendor POS systems, such as on-site service and depot repair service.

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UPDATE: Big Tech stocks are on the cusp of creating a setback for indexes

3:14 pm ET August 1, 2020 (MarketWatch)

By Simon Maierhofer

Strength in the likes of Amazon and Apple has become too much of a good thing

Mega-cap technology stocks have driven the Nasdaq and S&P 500 higher while, like a shiny veneer, they've masked broader stock market weakness.

But there's reason to believe that the covering may soon come off as mega-caps turn into a liability for the broader market.

Here's the 2020 performance (as of July 30) of mega-cap tech stocks compared with the Nasdaq-100 , S&P 500 , Dow Jones Industrial Average and Russell 2000 .

Facebook (FB): +14.25%

Amazon (AMZN): +65.16%

Apple (AAPL): +31.03%

Microsoft (MSFT): +29.30%

Netflix (NFLX): +50.14%

Alphabet (GOOGL): +14.86%

Nasdaq-100: +22.70%

S&P 500: -0.48%

Dow Jones Industrial Average: -7.80

Russell 2000: -10.39%

Indexes with the lowest exposure to mega-cap tech have performed the worst.

The chart below quantifies the dominance of mega-cap tech stocks. The black graph is an equal-weighted index of Amazon, Apple, Facebook, Microsoft, Netflix, Alphabet -- let's call it the FAAMNG index. (The "G" stands for Alphabet unit Google.)

From the start of 2009, the FAAMNG index soared as much as 4,089%, while the Nasdaq-100 gained "only" 757%.

Mega-cap leadership has been long-term bullish. The zoomed-in version of the same chart includes the same long-term trend line (purple) in addition to a short-term trend channel (orange). This chart includes Thursday's post-earnings spike.

The next chart is the one that suggests that mega-cap strength has become too much of a good thing.

For better and for worse

This chart below compares the Nasdaq-100 with the 80-day rate of change (ROC, in percent) of the FAAMNG index. The rate of change was as high as 71.14% on July 10.

As the blue lines show, there's been increased risk of a pullback -- especially since 2018 -- whenever the rate of change exceeded 45%.

The rate of change is more of a mid-term indicator useful for the months ahead. Here is a chart more suitable for the weeks ahead.

Short-term considerations

Earlier in July, the Nasdaq Composite broke above trend channel and Fibonacci resistance and subsequently fell back below it.

Now the Nasdaq Composite is testing that resistance level (around 10,700 points) once again. If it can break and stay above it, any short-term danger will be postponed.

However, as discussed here (, momentum doesn't die easily, so a drop below the green support levels shown via the short-term chart insert (blue box) is necessary to start confirming a throw-over top.

Regarding that support, I said in the July 26 Profit Radar Report that: "Aggressive investors afraid of missing out on any upside may consider going long with a stop-loss below support."

To sum up, mega-cap strength may have become too much of a good thing. A break above resistance is needed to postpone risk, but a break below support is needed to confirm a deeper pullback.

Simon Maierhofer is the founder of iSPYETF ( and publisher of the Profit Radar Report (

-Simon Maierhofer; 415-439-6400;

(END) Dow Jones Newswires

August 01, 2020 15:14 ET (19:14 GMT)

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