Sky Clears Up for the Cloud: CTXS, ARUN, NFLX, CRM

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 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.

About Nicholas Santiago 575 Articles


Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

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