Software Mean-Reverting, Oversold Bounce?

Recap of the dominant theme this week: The market has aggressively rotated into a “long picks-and-shovels (semiconductors), short vulnerable software” trade, betting that AI infrastructure/enablers (e.g., chips) benefit while traditional software faces existential disruption risks. Software sector…  IGV (daily) After sharp declines, today’s action  is forming a bullish hammer candle on exceptionally heavy volume. This…