Softwares Long Awaited Arrival?
We spoke in our Tuesday Game Plan this week about the need for software to finally step up, and it seemed like the group listened. Wednesday witnessed some powerful moves with TTD responding very favorably to a mediocre earnings reaction, to put it mildly. It has acted well since a move off the 40 number we profiled back in November. PLTR is flirting with the very round 10 number up better than 30% this week already in the best WEEKLY volume in the last 9 months with 2 sessions still left this week. U has advanced almost 20% this week, and these 3 names have been laggards, and are they ready to turn the corner, or are these dead cat bounces? Others like ZIP PHR or FOUR give the group more relevance. Below is the chart of the IGV and if these space can turn the corner above the very round 300 number that would be a very potent 1-2 punch with the semis, or at least perhaps give the latter a chance to catch its breath after a scintillating recent move.