Reason: AKAM has crossed below its 200-day this cycle - vs 200-day now -1.5% (was +1.9%), regime downgraded to collapse - real deterioration where last cycle it was only "the thinnest cushion in the group." NET, DDOG, and DOCN remain positive on 1-year change and above their 200-day - still deep pullbacks in intact trends - though the magnitude has compressed across the board (NET 1-year change +52.07%->+40.49%; DOCN +285.6%->+233.36%).

Tape Read

$NET: price $299.84, RSI 54.3, golden-cross, trend strong-up, regime uptrend, thesis intact, 7D +2.28%, 30D +10.9%, -9.75% off its 52-week high — 35.9% above its 200-day average (vs 200-day) and 1-year change +40.49% (down from +52.07%), 1-year alpha +20.62 (down from +30.25): still a deep pullback in a genuinely intact trend. $DDOG: price $236.98, RSI 46.9, golden-cross, trend weak-down (short-window), regime pullback, thesis intact, 7D +0.58%, 30D -10.3%, -19.04% off its high — 35% above its 200-day, 1-year change +68.12%, 1-year alpha +48.25: same read, intact. $DOCN: price $111.21, RSI 41.9, golden-cross, trend weak-down, regime pullback, thesis unrated, 7D -3.81%, 30D +4.17%, -40.69% off its high — 16.4% above its 200-day (down from +23.2% last cycle) and 1-year change +233.36% (down from +285.6%), 1-year alpha +213.49: still a deep pullback in an intact trend despite the compression. $AKAM has genuinely deteriorated: price $107.47, RSI 40.8, golden-cross, trend down (downgraded from weak-down), regime collapse (downgraded from pullback), thesis unrated, 7D -2.65%, 30D +0.06%, -35.04% off its high — it has now crossed below its 200-day (vs 200-day -1.5%, was +1.9% last cycle), 1-year change +37.1% (down from +44.68%), 1-year alpha +17.22: the level to watch, $109.15 (its 200-day), has now been breached. Source: full-scan pre-computed summaries as of the 2026-08-28 close — web-cloud.

• $NET — PROMOTE-adjacent WATCH: thesis intact, 1-year change +40.49%, 35.9% above its 200-day, 1-year alpha +20.62 — deep pullback in an intact trend, compressing.
• $DDOG — WATCH: thesis intact, 1-year change +68.12%, 1-year alpha +48.25 — intact despite the weak-down short tag.
• $DOCN — WATCH: 1-year change +233.36%, 1-year alpha +213.49 — still the group's strongest long-horizon number even after compressing from +285.6%.
• $AKAM — PASS: has crossed below its 200-day this cycle (was above) — genuine deterioration, regime downgraded to collapse; the $109.15 level has been breached.

Lead pick: $AKAM is the story this cycle — where it was merely the thinnest cushion in the group last time, it has now genuinely broken below its 200-day with its regime downgraded to collapse. $NET, $DDOG, and $DOCN remain deep pullbacks in intact uptrends, all still positive on 1-year change and above their 200-day, though the magnitude across the group has compressed since last cycle.

Sources

• Tape data (price/RSI/SMA/returns/1-year change/1-year alpha): full-scan pre-computed summaries as of the 2026-08-28 close — web-cloud.