“Now” Is The Time:

The software group has been well, soft compared to its main tech sub sector rival for some time now. And it is continuing into 2021, albeit the year is obviously very young. But while the IGV is down fractionally YTD by .3%, the SMH is HIGHER by more than 11%. Former software darlings such as SPLK CTXS SAP CRM and MIME are now all in bear market mode, down more than 20% from most recent 52 week highs. Even the mighty MSFT is trading sideways, although off by a respectable 7% from its annual peak made early last September. Below is another prior standout in NOW. It is trading in somewhat weak territory, CLOSING below its 50 day 8 of the last 9 sessions. Remember it is not a crime to break below the important line, and the stock is keeping in close proximity, a plus, but the longer it swims below that moving average the worse. There are better fish to fry in the software arena, but this will be an interesting name to watch in the coming weeks to see if it continues to be left behind.

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