Reason: NET has weakened notably this cycle - trend downgraded from strong-up to weak-down, regime from uptrend to pullback, 1-year change down to +32.83% (was +40.49%), alpha to +14.18 (was +20.62) - part of the day's broad software liquidation. DDOG has deteriorated even more sharply on the short window (RSI now near-oversold at 38.7, 30D -24.8%) while its 1-year change (+61.58%) and alpha (+42.93) stay solidly positive. AKAM continues to sink deeper below its 200-day (vs 200-day -4%, was -1.5%). DOCN remains the group's strongest long-horizon number, ticking up further to +250.16% (was +233.36%).

Tape Read

$NET has weakened notably: price $278.92, RSI 46.7, golden-cross, trend weak-down (downgraded from strong-up), regime pullback (downgraded from uptrend), thesis intact, 1D -1.96%, 7D -6.95% (down from +2.28%), 30D -4.79% (down from +10.9%), -16.04% off its 52-week high (worse than -9.75%) — 25.4% above its 200-day average (vs 200-day, down from +35.9%), 1-year change +32.83% (down from +40.49%), 1-year alpha +14.18 (down from +20.62): still a deep pullback in an intact trend, but genuinely weaker this cycle, sitting inside the day's broad cloud/software liquidation. $DDOG: price $212.93, RSI 38.7 (dropped from 46.9, now near-oversold), golden-cross, trend weak-down, regime pullback, thesis intact, 1D -0.85%, 7D -10.14%, 30D -24.8% (much worse than -10.3%), -27.26% off its high (worse than -19.04%) — 20.7% above its 200-day (down from +35%), 1-year change +61.58% (down only slightly from +68.12%), 1-year alpha +42.93 (down only slightly from +48.25): a much deeper short-window pullback, still inside an intact long-horizon trend. $DOCN: price $112.47, RSI 45, golden-cross, trend weak-down, regime pullback, thesis unrated, 1D +2.81%, 7D +1.13% (up from -3.81%), 30D -9.63% (down from +4.17%), -40.02% off its high (roughly flat vs -40.69%) — 15.8% above its 200-day (roughly flat vs +16.4%) and 1-year change +250.16% (up from +233.36%), 1-year alpha +231.5 (up from +213.49): still a deep pullback in an intact trend, the group's strongest long-horizon number and still extending. $AKAM continues to deteriorate: price $105.22, RSI 39.6, golden-cross, trend down, regime collapse, thesis unrated, 1D -1.2%, 7D -2.09% (roughly flat), 30D -13.94% (down from +0.06%), -36.4% off its high (roughly flat vs -35.04%) — now 4% below its 200-day (vs 200-day -4, worse than -1.5% last cycle, sinking deeper below the line it crossed last cycle), 1-year change +36.31% (roughly flat vs +37.1%), 1-year alpha +17.66 (roughly flat): the breakdown flagged last cycle has continued to deepen. Source: full-scan pre-computed summaries as of the 2026-09-04 close — web-cloud.

• $NET — WATCH (downgraded): trend and regime both downgraded (strong-up/uptrend to weak-down/pullback), 1-year change down to +32.83%, alpha down to +14.18 — sitting inside the day's broad software liquidation.
• $DDOG — WATCH (caution): RSI dropped to near-oversold 38.7, 7D -10.14%, 30D -24.8% — the deepest short-window pullback in the group this cycle, but 1-year change and alpha stay solidly positive.
• $DOCN — WATCH: 1-year change +250.16% (extended further), 1-year alpha +231.5 — still the group's strongest long-horizon number.
• $AKAM — PASS: now 4% below its 200-day (worse than -1.5%), regime collapse — the break flagged last cycle has continued to deepen.

Lead pick: $NET is the story this cycle — both its trend and regime tags were downgraded, sitting inside the day's broad software liquidation, though it remains positive on 1-year change and alpha. $DDOG's short window deteriorated even more sharply (RSI near-oversold), but its long-horizon record stays intact. $AKAM continues to sink further below its 200-day. $DOCN remains the group's cleanest deep-pullback case, extending its long-horizon lead.

Sources

• Tape data (price/RSI/SMA/returns/1-year change/1-year alpha): full-scan pre-computed summaries as of the 2026-09-04 close — web-cloud.