A strategist notes that the sector is once again testing a technical support level, which increases the likelihood that it will break that support.
Source: https://www.marketwatch.com/story/software-stocks-are-having…
Investors exposed to cryptocurrencies such as bitcoin and ether have been on a wild ride over the past year.
S&P 500 (^GSPC +0.01%) finished almost flat at 6,921.46, the Nasdaq Composite (^IXIC 0.44%) declined 0.44% to 23,480.02 on tech weakness, while the Dow Jones Industrial Average (DJINDEX: ^DJI) gained 0.55% to 49,266.11 as defense and staples outperformed.
The slide this month by Oracle (ORCL) and Broadcom (AVGO) has reminded investors that artificial intelligence (AI) stocks don’t move up in a straight-line fashion. They may also want to consider that prior pullbacks by mega-cap AI equities have often proven to be buying opportunities.
