Software Doing Its Part:  

As most focus on the big semi-plays like NVDA AMD and even INTC, software is going about its business just fine. The IGV sniffed the very round 400 number on the first day of December and paused. So far so good. This is precisely what bulls want to see, a chance for the fund to catch its breath. It is extended from the 371.66 WEEKLY cup with handle pivot it took out the week ending 11/17, and remember that trigger was also a 3-week tight period, a very bullish pattern, with the 3 weeks ending between 7/14-28 all CLOSING within just .77 of each other. Last week fell 1%, in my opinion, a good showing given the combined 20% gain during the prior 5-week win streak. Top holding MSFT retested its cup base pivot of 365.36 almost exactly recording a doji candle on 12/4, and it has registered a couple of bearish dark cloud cover candles on 11/29 and 12/6. CRM and ADBE, the second and third largest components, each completed doji candles this week as well suggesting some consolidation is in order. 

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