Feb. 13 at 1:39 PM
$IGV In light of the broken software sector, JPM released a list of 19 software stocks resistant to AI disruption earlier this week. From a technical point of view they are of course broken. If and when the market embraces these again as investments, the reversal should be readily observable. At present, ALL 19 are below their 50-day moving averages and ALL their 20-day is below their 50-day. All 20-day slopes are negative and only
$OKTA has a positive 50-day. Only
$DDOG had price above the 20-day. Nibbling at the bottom is fine I suppose but no reason to heroically commit a lot until these stocks one-by-one prove themselves as new leaders by reversing these technical markers.
$NOW $MSFT