As we continue to monitor the tech sector, two key players are worth examining: IGV and software. In recent weeks, IGV has experienced a significant bounce from major range lows, while software has been consolidating. A close above $92 could reignite the squeeze, as we are already back above the 100-day moving average.

Interestingly, a sell-off in semis could create a bid for software as investors unwind the pairs trade and/or rotate into a relatively cheaper part of tech. This rotation could lead to increased demand for software stocks, potentially driving prices higher.

However, it’s important to note that the tech sector is inherently volatile, and market trends can shift quickly. As such, it’s crucial to stay informed and adapt to changing conditions. By monitoring key indicators and trends, investors can make informed decisions and position themselves for potential gains in this dynamic space.