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Software 2023-08-17: -1 to "AVERAGE" strength rating (5th strongest of 9 levels), previous move was also DOWN

Brian Degracia

• 1 min read
Software 2023-08-17: -1 to "AVERAGE" strength rating (5th strongest of 9 levels), previous move was also DOWN
Software for the trading week ended 2023-08-17. Not good! This continues a trend that started about 4 weeks ago.

Here is my last look at Software.

The three largest sub-industries Application Software, Business Software & Services, and Information Technology Services all are Average (5th strongest of 9 levels).

Two reviews ago I highlighted RIOT/Riot Platforms. It has since imploded. It is -42% from its July 13 peak. About 3 in 10 Computer Software & Services stocks are -15% since that date.

Weakness over the past 4 weeks for Computer Software & Services.

Leaders and Laggards

Current strongest and weakest stocks are shown below. These are of most interest as the downtrodden are prone to large (if perhaps temporary) pops while the strongest have been leading the charge for their sub-industries.

Strongest to Weakest ratio is 43:33, as compared to 3 weeks ago when this ratio was 97:12. This decline is similar to that experienced in the Electronics industry.

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