Reason: Security/data-infra (CRWD/OKTA/DDOG/SNOW) is the strong side of the basket, with OKTA now parabolic; legacy SaaS (INTU/CRM/HUBS) stays broken/collapse.

Tape-read: The cloud-saas watchlist is still split into two tapes. Security and observability names (CRWD, OKTA, DDOG, SNOW, ZS) are golden-cross/strong-up-to-parabolic, riding the same AI-security bid the desk flagged with PANW this week. Legacy application SaaS (CRM, ADBE, INTU, WDAY, TEAM, HUBS) remains death-crossed; INTU specifically carries a thesisState: broken tag with RSI 41.4 in a collapse regime, -66.6% off its 52-week high. Source: summaries/cloud-saas.json (no dedicated 2026-07-07 scan for this watchlist; cross-checked against 2026-07-07-cloud-etfs.md for sector framing).

• OKTA — PASS (trim, don't chase): RSI 77.9, parabolic regime, +87.3% 3M, +20.6% vs SMA20 — the security cohort's most extended name; a hot pocket, not a fresh entry.
• CRWD — WATCH: RSI 74.5, strong-up, golden cross, +21.1% 30D, -4.8% off 52wk high — approaching overbought but the cleanest trend in the basket; hold, add only on a flag.
• DDOG — PROMOTE: RSI 64.5, strong-up, golden cross, thesis intact, +10.2% 30D, not yet in the overbought band CRWD/OKTA are in.
• INTU — PASS: RSI 41.4, collapse regime, thesis flagged broken, -66.6% off 52wk high — legacy SaaS de-rate, no reversal evidence.

Lead pick: DDOG — golden cross, thesis intact, RSI still short of the overbought line CRWD/OKTA have already crossed. OKTA is the one to watch for a reversal (most parabolic in the group), not to add.