Software Raising Its Hand:

The software group has played second fiddle to the semiconductors for some time now. But that could start to change. Looking across the single stock leaderboards, not only today but for the last several sessions, within technology and they will show a plethora of software plays. Monday overall the IGV performed better up .7% compared to an UNCH move in the SMH. That could have been the result of investors clamoring for some mega-cap names in the uncertainty with MSFT up more than 2%, the IGV’s second-largest holding. The fourth largest component in ORCL recorded a bullish engulfing candle. Other names acting nicely to start the week were HUBS which bounced off its 50-day SMA and now sports a double bottom pivot of 414.10 its strength can materialize. PLTR registered a bullish engulfing candle. Below is the chart of the IGV and it can back to a level of former resistance after a quick 10% haircut from the very round 300 number on 2/2. It is clear that bulls and bears are in a fierce tug of war right here in the 270 area line in the sand.

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