By John StewartChief Investment Officer at Farmers Trust Co.Week in Review: Tech Roars BackAfter a strong market rally in April and May, tech stocks struggled through June and July, with many of the former high flyers down anywhere from 20 to 50% from their peaks. Keep in mind, the tech-heavy NASDAQ is still roughly 5% below its all-time high reached at the beginning of June. Broadly speaking, earnings reports for the big tech companies have been quite strong, although some have been met with harsh reactions from investors expecting even more, especially as it pertains to forward guidance. Are stocks whistling past the graveyard or is the underlying economy stronger than we think? If inflation expectations start to move higher in earnest, the markets will begin to experience significantly more volatility.