One part of the tech sector is already turning around amid the September swoon

The logo for Slack is displayed on a trading post monitor at the New York Stock Exchange (NYSE), June 20, 2019 in New York City.
Drew Angerer | Getty Images

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While the technology sector stands out as the sore thumb of the September sell-off, cloud companies are breaking away from the group and making a comeback. 

Cloud computing ETFs WisdomTree Cloud Computing and Global X Cloud Computing are both up about 3% this week, on pace for their best week since August 28 when they gained more than 6.5% a piece. At the same time, the technology-heavy Nasdaq Composite rose about 1%.

"This continued work from home trend, people think will be prolonged into the fall and winter as people go back inside and there worries about virus flare ups again," Bleakley Advisory Group's chief investment office Peter Boockvar told CNBC. 

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