It's Not So Hot to Cyber Anymore

Despite bounces in cybersecurity plays CYBR FEYE today, the industry (contained in the HACK ETF) has lost its luster since June, notably lagging the market rally in October. 

In addition to small caps, junk bonds, and assorted other momentum divergences, the lack of participation from the cybersecurity stocks, supposedly future leadership of the market, remains an issue likely needing to be resolved by bulls in order to sustain a meaningful upside breakout to new highs either later this year or in 2016.

Until that happens, a name like SPLK looks like an actionable short setup, which I just charted for Members on the private feed. Note the descending triangle (light blue) in the context of a corrective pattern. 

On weakness below $54.65 I suspect even more momentum players holding long inventory from higher prices will hit the exits as the hope for a comeback would diminish.