lifting something that we've been bullish on IGV as part of our Q3 Q4 software ware bottoming. IGV has heavy exposure to software and that expanded basically 102 stock ETF is up 7% today.
For an ETF with 102 stocks to be up 7% in a day is pretty remarkable.
I want to share a look at the IGV software exchange-traded fund, where you can see this upward gap and then our pullback last week of about 4.3%. There is a lot of activity in the software sector, mainly related to profits, but we are still above these low levels that were recorded in June and again in July. So, overall, our position here is very good.
What I did want to highlight here with IGV, which is the expanded tech software ETF, here we are with this week's 6% advance, and we are moving closer to regaining that high from last fall.
So, that is certainly very good news. We have a positive We're looking at a weekly chart. Positive RSI, and that just getting into positive territory. So, it is a group while it's had big move, there is more certainly on the horizon as far as the group maintaining this uptrend and trading higher.
And it's also really good for IGV. Now, I don't invest in IGV, so I'm not trying to talk my book on IGV or whatever. Uh IGV is just it's an interesting exposure for uh cyber security, big cyber security exposure because they've got PaloAlto Networks in there as well.
Uh and then you've got Palunteer in there and you got a lot of stocks. I mean, they probably got like I think they have 102 stocks in IGV. Uh they call it the expanded software ETF.
IGV had a glorious bounce at 101. IGV is heavily exposed though to Palunteer and Cyber. So, I don't personally invest in IGV, but I do like using this as a little bit of a software proxy. 101 is a pretty regular bounce level.
Look at this 101 101 101. That's in the last 3 days on the 5minute chart here. Multiple bounces on 101. zoom out on the one day uh and you've got uh this is a retracement line which we've got some some areas to justify 101 uh but again very heavily exposed to cyber security and which has been on the pricey side.
It's come down a little bit the last few days. You could see the retracement's come down a little bit. We've been you know one heck of an uptrend here on cyber and um crowd strike you know same thing.
This uptrend has slowed a little bit. Now, this should stabilize.
