CHIPS AND SUPER CYCLE SUPPORT OCT 13TH .50% AND .786 %The chart posted is that of the IGV INDEX AND ETF . Simple if we break it the bear market has 35 % more downside and into mid june 2023 BUT WE RALLY MUCH MORE then the US$ is in freefall.
About iShares Expanded Tech-Software Sector ETF
Open short positions soon….Based on price action I believe the IGV will continue to fall as earnings approach and a continued risk of high inflation we could see some continued selling off of the IGV.
BOT + BOS = Get shortBreak of Trendline plus break of structure
Price consolidated and broke trendline
3:1 RR
Has IGV bottomed?It looks like IGV (tech software sector) has reached a bottom for now. It touched the uptrend line dating back to 2009. There is a lot buying volume in the last couple of weeks. It could be a good time to start buying into the top 3 holdings (MSFT, ADBE, CRM) of this ETF.
Please evaluate own risk b
IGV $IGV iShares Expanded Tech Sector Initial ShortIGV $IGV iShares Expanded Tech Sector Initial Short. TP and SL on chart. Move SL on TP. After TP2, trail with 0.5ATR step and 1.5ATR offset.
IGV (iShares Expanded Tech - Software Sector ETF)Comparing the performance of the IGV ETF versus the S&P 500 and the NASDAQ indexes since September 30, 2021.
$IGV wait for confirmation (3/5)Conviction: 3/5
Better to wait until we break above downtrend resistance line, but overall looks strong
seemed to bounce off 100WMA
RSI-W at historical buy points
bounced off (for now) 50% retracement
RISKS
Very expensive relative to historical trend
Software at 200sma + HorizontalIGV, a Software based ETF, is currently at the 200sma which has shown support before. It is also at horizontal support from February highs.
Trade setup is drawn in chart. The risk-reward-ratio is above 4.
Top 10 holdings
MSFT (10%)
CRM (9%)
ADBE (9%)
INTU (7%)
ORCL (6%)
NOW (5%)
ADSK (2
$IGV softies- Growth puke on par % w/Feb'Mar'21, same as $QNET- IGV this growth puke not any worse vs Feb/March, same as $QNET Nasdaq Internet Index posted.
Look at where this one closed Friday, right at Feb peak.
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