Do Or Die For Software
Do or die
Software (IGV) down to massive levels. RSI is beyond oversold. Let's see how things play out from here...
Source: LSEG Workspace
Weekly perspective
IGV weekly RSI at the most oversold level since late 2008.
Source: LSEG Workspace
Follow Bitcoin?
IGV and BTC have traded in close tandem for years. During last spring’s bottoming process, BTC caught early bids first, with strength later spilling over into software. The setup is starting to look similar again.
Source: LSEG Workspace
Volume mania
The flush out?
Source: GS
Real money coming in?
IGV has taken in over $1.5 billion worth of inflows over the past two sessions (GS).
Source: GS
Vol beast
IGV has become a very volatile space. Chart shows daily moves greater than 3%.
Source: GS
Cheap(er)
If software is cheap or not we leave for you to decide, but the re-rating has been aggressive.
Source: GS
Source: GS
Mutual funds now underweight
Mutual funds have reduced their Software exposure.
Source: EPFR
Hedge fund net leverage collapsed
Hedge funds have recently slashed exposure to Software. Net leverage down from 16% to 2%.
