Software underperforms S&P 500 in trend comparison, Chris Ciovacco notes

Software underperforms S&P 500 in trend comparison, Chris Ciovacco notes
Software stocks lag S&P 500 trend

Chris Ciovacco highlights that software stocks have significant ground to cover in order to reverse the prevailing trend relative to the S&P 500.

He compares the performance of the IGV software ETF against SPY, emphasizing the current lag.

Ciovacco previously noted that the S&P 500 was higher one year after all seven past signal triggers, with an average 17.8 percent gain, in recent research. He also examined concerns over whether a new Federal Reserve chair could negatively affect U.S. stock market performance in an earlier analysis. The latest comments come as he tracks shifts in sector momentum.

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