Double the software troubleWe turned bullish on Software as a tactical bounce trade a few weeks ago. That bounce has already delivered — but it might very well be time to increase this long.A decisive close above the key $94/$95 IGV area could trigger the next leg of the squeeze, especially now that the bullish 21/100-day crossover has officially kicked in. Last time Software saw a similar technical setup, the move higher accelerated materially.
The Most Hated Trade On The Screen May Be About To Rip Again
Mutual funds are massively underweight, shorts are crowded at the 100th percentile, and valuations remain crushed — just as IGV threatens breakout mode.
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