Software Double Bottom? IGV at Support

Software may be ready. IGV completing an ABC correction right into wave (1) support at $82 — the exact level where a double bottom would form. Stochastics washed out across the sector.

The "sell first, ask later" wave hit everything — including names that are structural AI beneficiaries. The market treated all software as disruption victims, but the correction is creating opportunities where AI is additive, not destructive.

Screening for individual stocks showing relative strength against the IGV benchmark. Snowflake stands out: a core data infrastructure play that should benefit from every agentic AI deployment. Agents need data. Agents need governed, structured, queryable data.

Weekly stochastics on SNOW are deeply oversold (20/17) with a clean 5-wave projection off the 2022 lows. Earnings on February 25 — expectations lower, positioning cleaner, AI data narrative stronger.

If IGV holds $82 and SNOW delivers, this is where the software bounce starts.