Software 2023-09-08: -1 to "AVERAGE" strength rating (5th strongest of 9 levels), previous move was UP

Brian Degracia

11 Sep 2023 • 2 min read

Software industry for the trading week ended 2023-09-08, industry weakened along with 2 sub-industries.

Bottom line: Software has generally been treading water for the past 5 weeks.
Key stocks: ORCL, ADBE, ACN, CRM, INTU, IBM, NOW, UBER, ATVI, VMW (top 10 by market cap).
Context: The industry has been more than 70% positive YTD, dropping to only 49% positive over the past month.

One week, YTD, and one month reviews below, along with links to past reviews.

1 Week Detail

Overview

2 of 8 sub-industries weakened.

Strongest at STRONG rating (4th strongest of 9 levels):
1. 5 tied, with the two largest being Application Software and Information Technology Services

Weakest at WEAK rating (6th strongest):
1. Tie, Healthcare Information Services and Multimedia & Graphics Software

10-Week Industry/Sub-industry Week-by-Week Comparison

The underlying sub-industries have been generally churning back and forth within their own strength levels, so the overall industry hasn't changed much over the past 10 weeks.

Individual Stock 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.