Please refer to the attached PDF for the full report.
Software (IGV): The software benchmark pulled back slightly but remains near the pivot range of a stage-two cup base. The IGV is 3% off
its all-time high, testing support at its 10-DMA, followed by its 21-DMA (-1%). Quantitative metrics remain constructive, with Up/Down
Volume ratio above 1 and a positive Acc/Dist Rating. Ideas that are either setting up or near the pivot include CRWD, DDOG, PANW,
PCOR, TTWO, VEEV, and ZS. Six of the 12 industry groups have shown improvement in Group Rank over the last four weeks, with
Enterprise (#45, SNOW) showing the sharpest improvement, followed by Security (#83, CRWD) and Spec Enterprise (#30, APP). We
recommend focusing on ideas with a rising RS line that are holding above key moving averages.
Commentary: We turn positive on the crypto space as GBTC reclaims its 21-DMA and 50-DMA. It is up 11% this week and it is setting up to
break out of a flat base. Pivot: $96.62. Support level: 50-DMA ($90). GBTC has a high RS Rating of 87 and an Acc/Dist Rating of B+.
Meanwhile, ETHE is up 11% so far this week and has regained its 21- and 50-DMA.
Please refer to the attached PDF for the full report.
Software (IGV): The software benchmark declined ~2% on below average volume and remains near its pivot ($114). The index is 3% off its
all-time high. Support is at the rising 21-DMA ($112), followed by the 50-DMA ($110). Quantitative metrics remain constructive, with
Up/Down Volume ratio above 1 and a positive Acc/Dist Rating. Multiple ideas, including CRWD, CVLT, DDOG, MSFT, NTNX, and ZS, are
forming bases, while ADSK, PEGA, PLTR, TTWO, and VEEV are at or near their pivot. Seven of the 12 industry groups have shown
improvement in Group Rank over the last four weeks, with Database (#22; VRNS) showing the sharpest improvement, followed by
Enterprise (#44; SNOW) and Spec Enterprise (#28; APP). We recommend focusing on ideas with a rising RS line that remain above key
moving averages.
Commentary: We remain cautious in the crypto space, as GBTC was down 5% for the week. Support is at the 100-DMA ($87.1), followed
by $80. GBTC has a strong RS Rating of 86 and an Acc/Dist Rating of C. Meanwhile, ETHE was down 11% for the week and has breached
its 50-DMA.
Please refer to the attached PDF for the full report.
Software (IGV): The software benchmark gained 5% and is breaking out of a stage-two, seven-week cup base. The IGV is at its all-time
high with improving quantitative metrics, including an Up/Down Volume ratio above 1 and a positive Acc/Dist Rating. Multiple large cap ideas
including – AXP, CDNS, CRWD, CVLT, PEGA, SHOP, TTWO and ZS – are setting up or near the pivot. Eight of the 12 industry groups
have shown improvement in Group Rank over the last four weeks, with Spec Enterprise (#38, APP) showing the sharpest improvement,
followed by Database (#21, CVLT), Enterprise (#56, PLTR, SHOP), and Credit Card/Payment Processors (#49, AFRM, AXP). We
recommend focusing on ideas with a rising RS line that are holding above key moving averages.
Commentary: We turn positive in the crypto space given that GBTC retook its 50-DMA last Friday. It is down 0.5% so far this week, with key
resistance at its recent high of $96.62. Next level of support: 100-DMA ($86.76), followed by the 200-DMA ($80). GBTC has a high RS Rating of 86 and an Acc/Dist Rating of B-. ETHE is down 3.5% for the week, but remains above the 21-DMA and 50-DMA with the next level of resistance at the recent high of $40.14.
Please refer to the attached PDF for the full report.
