Software stocks have taken a brutal hit as of late, but is its posture starting to change? Below on the ratio chart comparing the IGV to the SMH this week’s break above a bullish ascending triangle suggests so. Of course, there has been some positive action in the cyber security names with the current conflict. HACK registered a huge reversal off the very round 50 number last week with the ETF CLOSING almost 10% off intraweek lows rising 4.3%, its best WEEKLY gain since last August. And this week so far is up almost another 4% demonstrating excellent relative strength. There was some interesting divergent action among the cyber names Monday with my favorite name in DDOG CLOSING well off the intraday highs, while CHKP FTNT PANW CYBR and AKAM all CLOSED at highs for the session. Looking at the semis the move lower on the ratio chart comes courtesy of NVDA and AMD. Both of these former powerhouses have now lost approximately one third of their value, and each are cliff hanging onto their 200 day SMAs for the third time in such quick succession.