Chart of the Day - Wednesday, February 4, 2026

🏆 Today’s Chart of the Day was shared by @TheProfInvestor.
 

• Software ($IGV) is currently testing its anchored VWAP from the 2022 bear market lows, coinciding with the highest single-day volume on record.
   
• On a relative basis, software is completing a massive multi-year top versus the S&P 500 ($SPY). 
   
• Now on pace for its worst two-week decline since covid, software has been a drag on the broader tech sector, pushing the Nasdaq ($QQQ) into negative territory for the year.

The Takeaway: Software remains a headwind for technology, with record volume today as price tests a key anchored VWAP.