3d (edited) • 📈 No‑Chase Swing Watchlist
Market Update
Software stocks sold off hard early today, but many bounced from their lows. That usually means sellers may be getting tired and buyers are starting to step in. This doesn’t confirm a bottom, but it does suggest things may be stabilizing — or setting up for a short-term bounce.
At the same time, weakness looks like it’s rotating out of software and into chip and memory stocks, which have been strong recently.
Even with all the volatility in tech, the broader market is holding up well. The equal-weight S&P is moving higher, showing strength outside of just a few big names.
Earnings have been mixed, with more disappointments than surprises, and economic data today showed slowing growth but still-high inflation.
Bottom line: tech is still messy, but early signs of buying in software mean it’s worth watching closely — not chasing.
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Market Update
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