The technology sector is staging a very good bounce in the stock market today. The cloud computing stocks have seen very good buying pressure off of the morning lows. This cloud computing stocks have been under tremendous selling pressure since early July, therefore, this could just be a short term bounce from an oversold technical condition.
Leading cloud computing stocks such as Citrix Systems Inc. (NASDAQ:CTXS), Netflix Inc. (NASDAQ:NFLX), Aruba Networks Inc. (NASDAQ:ARUN), and Salesforce.com Inc. (NYSE:CRM) have staged solid reversal days on the charts. These stocks are all market leaders that should be followed closely. Traders should remember that a one day reversal does not make a trend. Should these stocks see follow through to the upside in the coming days it is possible to see a short term reversal in this sector.