Cloud / SaaS — Broad sector devastation. Every ETF and individual name is in strong-down with death crosses, RSI compression to 34–46 range, and 3-month losses of -14% to -58%. The only exception is NET, which holds above SMA200 (+1.6%) with an "up" trend — a lone island in a sea of red. TEAM's -57.9% in 3M is the most shocking single data point in the scan.

Tier 1 — The Only Island: NET

• NET $204.56 — The one name in this entire scan not in full retreat. RSI 51, +1.6% above SMA200, "up" trend. 30D return +13.0%, 3M return +3.8%. Death cross is technically present but price is above SMA200 and trend is "up" — the death cross is a lagging artifact. 1yr alpha vs SPY: +81.2. NET is the cloud sector's lone momentum name and the one most likely to lead any recovery. The -10.96% this week is worth monitoring — a pullback to SMA50 ($190.69) would be an entry opportunity.

Tier 2 — Stabilizing / Less Broken

• OKTA $78.42 — RSI 49.8, flat vs SMA20 (+0.1%). 30D +6%, 3M -9.3%. Relative stability compared to peers. Death cross present but short-term momentum improving.
• FTNT $81.36 — RSI 50.0, -1.2% vs SMA20. 3M +2.5% — one of only a handful of cloud-adjacent names with positive 3M performance. Death cross present but price and SMA50 nearly identical (at parity).
• PANW $160.16 — RSI 49.5, 30D +6.7%, 3M -13.1%. Less damaged than cybersec peers. Death cross but short-term stabilizing.
• DDOG $118.11 — RSI 45.2, 30D +6.3%. Data observability/monitoring narrative more AI-adjacent than pure SaaS.
• INTU $430.79 — RSI 45.6, 30D +2.8%. Tax software has seasonal support (Q1 filing season). -34.9% in 3M but recent stabilization.

Tier 3 — Active Destruction

• TEAM $68.30 — -57.9% in 3 months. -71.8% from 52wk high. RSI 36.1. The most damaged large-cap cloud name in the scan. Atlassian faces secular headwinds from AI code tools reducing ticket/project overhead.
• MDB $243.16 — -42.1% in 3M, RSI 35.3. MongoDB's document database model increasingly challenged by AI-native data paradigms.
• WDAY $129.76 — -39.6% in 3M, -38% vs SMA200. HR/finance SaaS rerating continues.
• HUBS $243.75 — -39.3% in 3M, -64.3% from 52wk high. Marketing SaaS compression extreme.
• SNOW $151.60 — -30.9% in 3M, RSI 34.4, -29.5% vs SMA200. Data cloud narrative undercut by cheaper alternatives.
• ZS $140.15 — -37.7% in 3M, -58.4% from 52wk high. Zero-trust narrative hasn't protected the stock.

• NET — The only buy-on-dip candidate in the scan. Entry $190–200 on test of SMA50 ($190.69). This week's -11% selloff may be creating the entry. Stop below $180.
• OKTA — RSI 49.8 + near SMA20 support. If 30D momentum (+6%) continues, entry at current levels with tight stop at $74 (SMA50 is $81.16 — wait for that to turn).
• No other actionable entries — Most names need to establish RSI bases above 45 and show 2+ weeks of SMA20 reclaim before warranting capital.

Cloud / SaaS is experiencing a generational de-rating. The AI narrative that once inflated multiples is now being used to justify compression: if AI models commoditize workflows, the SaaS subscription model loses pricing power. TEAM's -57.9% in one quarter is an extreme data point but may be the canary — project management software is exactly the category where AI agents reduce human overhead. The ETFs (IGV, WCLD, SKYY) are all in strong-down with death crosses and no SMA200 support anywhere. NET stands alone as proof that not all cloud is equal — security/networking/edge infrastructure is treated differently than pure workflow SaaS. The playbook for this sector: wait for RSI basing above 45 across multiple names + ETF reclaim of SMA50 before building broad exposure. For now, only NET is worth active monitoring.

Data: 2026-03-31 pre-computed summaries.