I'm Carl Kintanilla. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern.

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Happy Friday. Welcome to Tech Check.

I'm John Fort with you, Jibosa, and Julia Borsden.

Carl Scott the morning off.

Today, NASDAQ back near the flat line after a short-lived bounce.

Is the pivot from growth-the-value played out?

Was this just a dead cat bounce for tech?

Later, a rare downgrade for Disney, why Guggenheim thinks Parks and Disney Plus are in trouble. And finally, a poor

retail sales number could mean more pain for an already beaten down e-commerce trade. We've got

the names to target on the dip. Maybe this hour, Dee. Maybe indeed. And we're going to start

with the markets. And the recent sell-off in tech, the NASDAQ, has been moving between gains and losses this morning. Currently, right on the flat line, cloud and fintech, still lower following a 2.5% drop yesterday. Domchu has more on what's moving. Dom, it's really all over the place this morning. I'm looking at the SOX ETF and the K-Web.

Those are higher today. So there's a good amount of muscle memory, right, Deirdre, when it comes to the markets overall, because we've been in such a long-term bull market that hasn't seen any real market pullback since the real pandemic started and then ended back in the spring of 2020. If you look at the NASDAQ, it's the reason why you are seeing at least a little bit of stability here.

But we have been moving off the highs of the session, and you can see we're trying to hold this range that we've had over the last three or four months. If we, though, kind of break below that area, we're going to try to target some of those fall lows that we see here as a place for the NASDAQ. Now, with regard to the individual components within there, taking a look at some of the sectors and industries within that broader trade and technology, you have to look at the semiconductors and the software stocks because they are two very big components, two ones that have played out very well over the last year, but have gone in different directions just in the last couple of months. If you take a look at the white line,

that's the IGV, which is an ETF that tracks the software side of things. Look at how steep

that decline has been just in the last three to four months. Meanwhile, the semiconductor

ETF has held up relatively well. It's only off about 4% from its record highs. Meanwhile,

this particular software ETF has now pulled back more, more than that, way more than that.

Now it's kind of in that so-called at least correction phase, if you will. Now, taking a look

overall at some of the stocks that we want to keep an eye on today, each of these names, Service Now,

Lumen Technologies, Tesla and NVIDIA have been stocks that have

been hit by at least 5% or more in yesterday's trade. Today, they're all in the green. We want to

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