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Imminent reversal seen in software sector, Jake Wujastyk suggests
Jake Wujastyk, founder and CEO at TrendSpider, observes that the setup in the software sector continues to indicate a reversal is imminent.
The comment refers to IGV, a key software ETF, suggesting market participants should be alert for potential changes in sector direction.
Wujastyk has previously commented on technical patterns in volatile markets. He recently addressed concerns about Bitcoin’s price drop, noting the formation of a notable ‘rainbow’ chart pattern. Earlier, he highlighted elevated volume in NFLX call options up to $90 strikes during a period of share price losses.
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