Jun. 5 at 10:51 PM
$IGV drifted lower with the broader market, but the tape tells a different story
Volume on the pullback has been light, while recent sessions actually showed stronger buy-side activity compared to selling pressure just a few days ago. That’s not what you see in a true distribution phase.
This still looks like a constructive software setup heading into the summer if the trend holds. Names like
$CRM and
$MSFT haven’t broken structurally, they’re just consolidating with the index.
For now it’s more about patience than panic. Weak hands are reacting to red candles, but the underlying flow hasn’t flipped bearish yet