Software (IGV): The software benchmark declined 1% last week and is forming the right side of a 28-week base. The IGV is 5% off highs
and is testing support at its 21-DMA ($104). Quantitative metrics have eased with a slight decline in the Acc/Dist Rating (C+). Only three of
the 12 industry groups have shown improvement in Group Rank over the last four weeks, with Database (#69, ORCL) showing the
sharpest improvement, followed by Medical (#20, VEEV) and Gaming (#15, NTDOY). We recommend that investors focus on ideas with a
rising RS line and that are holding above key moving averages.
Author: Romeo Alvarez
Romeo Alvarez is a senior equity analyst at William O’Neil + Co., a registered investment advisor serving 400 top-performing institutional portfolio managers worldwide. The firm employs 150 associates in Los Angeles, New York, Boston, and London.
Based in the firm’s Los Angeles office, Mr. Alvarez is a senior equity analyst covering the Americas region and a member of the Global Focus List Committee, which approves all equity recommendations for developed, emerging, and frontier markets. Romeo also selects equity initiations to be covered in the Technology sector and regularly reports to clients on innovation and technology developments in Trend Watch.
Mr. Alvarez earned a B.S. in Business Economics from the University of California, Riverside, and an MBA with a focus in Finance from Loyola Marymount University, Los Angeles.
O’Neil Global Cryptocurrency Weekly
Cryptocurrency – Technical Overview
Commentary: The crypto market remains in a Confirmed Uptrend. GBTC was down 1.3% this week and breached its 21-DMA. Support levels: 50-DMA ($78.2), followed by the 100-DMA ($74.7). GBTC has a strong RS Rating of 93 and an Acc/Dist Rating of C. The index recently broke out of its recent stage-one cup base (pivot; $86.1). We recommend adding risk in Bitcoin and the crypto ecosystem.
Semiconductor Equipment Group Rebounds as Spending Hits a Record in 2026
Global spending on new semiconductor manufacturing equipment is expected to hit a new record in 2026. The attached report from Romeo Alvarez, Research Analyst, Director; Charan Kumar R, Senior Equity Research Analyst; and Saideep Choudhary, Equity Research Analyst, highlights industry trends and top-rated names through the O’Neil lens.
LATAM Weekly Summary
Key points from this week’s report:
Please refer to the attached PDF for the full report.
- Brazil’s Bovespa index rose 0.8% last week after finding support near the 50-DMA. The index remains in an Uptrend Under Pressure. We recommend investors selectively add risk in Brazilian equities.
- Mexico’s main benchmark declined 1.1% last week after hitting resistance at the 21-DMA. It is trading 4% off highs. The index remains in an Uptrend Under Pressure. We recommend investors selectively add risk in Mexican equities.
- The total number of Focus List stocks in the LATAM region remains at four. MercadoLibre (MELI) and Inter & Co. (IP9.BR; INBR32 BZ) are actionable.
- Stocks of interest: Banco Santander Brasil (SAN.BR; SANB11:BZ), Regional (GFR.MX; RA*MM), Grupo Financiero Banorte (GTB.MX; GFNORTEO:MM) and Smartfit (SED.BR; SMFT3:BZ).
O’Neil TMT Weekly
Software (IGV): The software benchmark was relatively flat last week and remains on the right side of a stage-one cup-with-handle base
with a pivot of ~$110. The IGV is 4% off highs, with the first level of support near its rising 10-DMA ($105). Quantitative metrics remain intact
with Up/Down Volume ratio at 1, while numerical Acc/Dist Rating remained positive along with a letter rating of B-. Large-cap stocks
continue to be an area of strength, led by ideas – MSFT, ORCL, PLTR, NET, VEEV- trading at or near pivot points. Payment Processors
will be an area of focus due to the Genius Act (See below). Six of the 12 industry groups have shown improvement in Group Rank over the
last four weeks, with Database (#46) showing the sharpest improvement, followed by Financial (#23) and Tech Services (#8). We
recommend that investors focus on high quality ideas with strong quantitative metrics including improving Acc/Dist and RS Ratings.
O’Neil Global Cryptocurrency Weekly
Commentary: The crypto market remains in an uptrend. GBTC is up 1% this week as it tests support at the 21-DMA. Next support level: 50-
DMA ($77; 7% away). GBTC has a strong RS Rating of 93 and an Acc/Dist Rating of B-. We recommend adding risk in Bitcoin and the
crypto ecosystem as long as GBTC remains close to the 21-DMA.
LATAM Weekly Summary
Key points from this week’s report:
Please refer to the attached PDF for the full report.
- Brazil’s Bovespa index declined 0.7% last week and broke below its 21-DMA. The index is in an Uptrend Under Pressure. We recommend that investors selectively add risk in Brazilian equities.
- Mexico’s main benchmark rose 0.4% last week and is trading 3% off highs. The index was shifted to an Uptrend Under Pressure from a Confirmed Uptrend. We recommend that investors selectively add risk in Mexican equities.
- The total number of Focus List stocks in the LATAM region remains at four. Inter & Co. (IP9.BR; INBR32 BZ) is actionable.
- Stocks of interest: Banco Bradesco (DC3.BR; BBDC3 BZ), Regional (GFR.MX; RA* MM), Qualitas (QCC.MX; Q* MM), and Gentera (CSV.MX; GENTERA* MM).
O’Neil TMT Weekly
Software (IGV): The software benchmark gained ~2% and is consolidating on the right side of a 26-week base. The IGV is 4% off all-time
highs, with the first level of support at its 10-DMA ($104). Quantitative metrics remained stable over the last week, with Up/Down Volume
ratio below 1 and an Acc/Dist Rating of B-. Ideas that are setting up include MSFT, NOW, NET, ORCL, and PANW. Nine of the 12 industry
groups have shown improvement over the last four weeks, with Financial (#20, INTU) showing the sharpest improvement, followed by
Database (#101, ORCL). We recommend investors focus on ideas with a rising RS line and ones that are holding above key moving
averages.
O’Neil Global Cryptocurrency Weekly
Commentary: The crypto market remains in an uptrend. GBTC is flat so far this week, pulling back from its recent high and is breaking
below support at its 21-DMA ($83). Next level of support is at its 50-DMA ($75.24; -10%). GBTC has a strong RS Rating of 91 and an
Acc/Dist Rating of B-. We recommend adding risk in Bitcoin and the crypto ecosystem as long as GBTC stays near the 21-DMA.
LATAM Weekly Summary
Key points from this week’s report:
Please refer to the attached PDF for the full report.
Brazil’s Bovespa index declined 0.6% last week and breached support at its 21-DMA. The index was shifted to an Uptrend
Under Pressure from a Confirmed Uptrend. We recommend investors selectively add risk in Brazilian equities.
Mexico’s main benchmark declined 1.0% last week but found support at its 21-DMA, and is only 3% off its 52-week high. The
index remains in a Confirmed Uptrend. We recommend investors add risk in Mexican equities.
The total number of Focus List stocks in the LATAM region remains at four.
Stocks of interest: Gentera (CSV.MX; GENTERA* MM), Industrial Penoles (PA2.MX; PENOLES* MM), Itausa Investimentos
(IS4.BR; ITSA4 BZ), Banco BTG Pactual (BPC.BR; BPAC11 BZ) and Orizon Valorizacao de Residuos (OVD.BR; ORVR3 BZ).
Additional ideas are listed on page 2.
