A Third “Magnificent Seven” Stock Just Broke Below This Key Indicator. Should Investors Be Worried?

The stock market has sold off a little recently, but it has still been an overall excellent start to the year, with the S&P 500 up 7% as of market close March 6. However, some major stocks are under pressure. The “Magnificent Seven” — Microsoft (NASDAQ: MSFT), Apple (NASDAQ: AAPL), Nvidia (NASDAQ: NVDA), Amazon (NASDAQ: AMZN), Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL), Meta Platforms (NASDAQ: META), and Tesla (NASDAQ: TSLA) — collectively make up 29% of the S&P 500. The performance of these companies has ripple effects throughout the broader market. Alphabet, now down 6% year to date, just joined Apple and…