The Most Hated Trade On The Screen May Be About To Rip Again

Double the software trouble

We turned bullish on Software as a tactical bounce trade a few weeks ago. That bounce has already delivered — but it might very well be time to increase this long.

A decisive close above the key $94/$95 IGV area could trigger the next leg of the squeeze, especially now that the bullish 21/100-day crossover has officially kicked in. Last time Software saw a similar technical setup, the move higher accelerated materially.