I'm Julia Borsden, and you're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern, listen in.

Good Thursday morning. Welcome to Tech Check. I'm Carl Cantanilla with John Fort and Julia Borsten.

Today, Mega Cap names march upward. We are seeing a big bounce in big tech as yields go the other way.

Then Jeffrey says Square is a, quote, must-owned stock. We're going to tell you why later this hour.

And also, how to fix Facebook. Our friend Shira Oviday has some ideas coming up. But we are going to start this

morning with the rally and where tech fits into all of it. Mike said totally has more. Hey, Mike?

Yeah, Carl, Big Cap tech stocks right. They were the only game driving

the indexes higher, let's say in July and August, had the worst decline, sort of got most

oversold. Now participating fully in this bounce. Look at the NASDAQ 100 here over the last.

Well, here we have it since June 30 of this year. But you've kind of had a flat line, but look at

this big bulge we got

into the highs. It's also been adhering pretty well to this longer term trend line. It bounced

right off at the other day. Look at the NASDAQ 100 against the Dow as it's been kind of trading

off leadership over the course of this year. It has mostly been a very elegant rotation.

It has turned much more messy recently. But if you look right here, NASDAQ 100 in white,

really had a tough time in the spring. The Dow was fine. We pointed this out a couple of times.

Dow, he had to kind of price it a little bit of a global slowdown there starting in August.

And the big cap tech Tech took up the slack.

Now, you have concerted declines, as we did in September.

That's where it's going to impact the indexes.

Today, you have all of them up about a percent and a half.

It seems like things got a little bit too pressure to the downside, a little bit stretched.

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