Chart Master: Software-semis pair trade?

Watch on YouTube ↗  |  January 21, 2026 at 22:33  |  1:59  |  CNBC
Speakers
Carter Worth — Technician, Fast Money

Summary

On CNBC's Fast Money, Carter Worth of Worth Charting discusses the software trade and the extreme divergence between software and semiconductors. He remains bearish on IGV and says he is still underweight tech, citing the same judgment since January 5. He highlights that semis are loved while software is abandoned and walks through comparative charts showing semis' massive outperformance over one, two, and three years. The segment sets up a potential software-semis pair trade but the transcript cuts off before a final conclusion.

  • Carter Worth joins Fast Money for a chart-focused segment on software versus semis.
  • He reiterates a bearish view on IGV, expecting it to go lower.
  • He remains underweight tech, referencing a January 5 judgment.
  • He notes semis are loved while software is being abandoned.
  • Comparative charts show semis up 73% vs software up 14% over two years.
  • Over three years, semis are up 170%, roughly doubling software's performance.
  • He presents a chart holding the tech sector constant to expose the software-semis spread.
  • The segment frames a potential software-semis pair trade, but the transcript ends before the final call.
Ideas
Carter Worth Technician, Fast Money 0:18
IGV still going lower, stay short.
Carter Worth remains bearish on software via IGV, saying he does not like IGV and thinks it will go lower. He says this is the same underweight tech judgment he has held since January 5 and advises sticking with it.
IGV HIGH
Carter Worth Technician, Fast Money 0:21
Underweight tech remains the call.
He reiterates an underweight stance on the technology sector, saying it is the same judgment from January 5 and that investors should stick with it. The IGV call is part of that broader tech underweight.
XLK MED
Carter Worth Technician, Fast Money 0:27
Extreme software-semis spread set for pair trade.
Carter Worth highlights an extreme relative relationship between IGV/software and semis/SOXX: semis are loved, with MU up again, while software is being abandoned. He shows comparative charts over one, two, and three years where semis have massively outperformed software, and holding the tech sector constant exposes the spread, setting up a potential software-semis pair trade.
SOXX MED
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This CNBC video, published January 21, 2026, features Carter Worth discussing IGV, XLK, SOXX. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Carter Worth  · Tickers: IGV, XLK, SOXX