# Tom Lee Says Tech Shares Face Selling Pressure as Defensive Sectors Strengthen By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/39164 Published: 2026-10-23T17:33:43.000Z Updated: 2026-10-23T17:33:43.000Z Section: Investing > Lee described market sentiment as overly pessimistic and relayed analyst Mark Newton’s view that technology stocks had largely reached support. BitMine Chairman Tom Lee said Friday, Oct. 23, that technology and semiconductor shares were under selling pressure as defensive sectors strengthened, while he characterized market sentiment as overly pessimistic. Lee also relayed technical analyst Mark Newton’s view that technology stocks had largely reached support. The comments follow [Lee’s earlier support-level view](), which covered crypto, chip and neocloud stocks and tied the risk-reward case to stable fundamentals during fearful markets. ## Links in this article - [Lee’s earlier support-level view](https://www.tokenpost.com/news/investing/34010)