Don’t let today’s software rally improve your mood

After a rough year in the public markets, you might take today’s brilliant trading as good news. Any positive price movement is a win, right? Kinda.
The tech-heavy Nasdaq composite index rose 3.4% today, while other major U.S. indices jumped smaller amounts in a hall-of-fame start to the trading week. (That the markets are turning up for Disrupt is rather kind, I must admit.) Even more important to the tech industry, however, is sector-specific news.
Observe:
Software/cloud companies: As measured by the Bessemer Cloud Index, shares of these companies are up 5.8% today.
Fintech: As measu

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