By Fred Imbert
Publication Date: 2026-04-16 13:22:00
One big part of the stock market is finally joining the market party: Software. The iShares Expanded Tech-Software ETF (IGV) has jumped more than 11% this week, clawing back some of its steep declines for the year. IGV is still down more than 21% in 2026 on fears that artificial intelligence will take market share from software companies. This week’s rebound coincided with the S & P 500 returning to all-time highs. This move may signal that the aggressive selling in software providers is over for now, according to Bank of America technical strategist Paul Ciana. “Down as much as ~37% from its September peak, the fifth wave down may be over with familiar support in the mid-$70s holding and price attempting to reclaim the 200-week [simple moving average] at $81.78,” Ciana wrote to clients. “We see no clear structural bottom pattern yet … But we do see potential for a head and shoulders base to form to lead a three-wave summer rally.” IGV YTD bar iShares Expanded Tech-Software ETF…