The software space has been pushed around over the last one month period by the semiconductors. During that time frame which the SMH gained 13%, the IGV fell by 6%. The IGV is 8% from its most recent 52-week highs, double that of the SMH, as the line in the sand for the latter is the very round 300 number. With most of these instruments including the indexes trade at this altitude is very choppy and indicative of topping action (bottoming action tends to be gradual and tighter). Some interesting developments among the funds largest holdings were the CEO of MSFT selling nearly half of his shares. Of course, the stock has had a long run but selling a quarter of a billion worth of stock for personal reasons seems a bit excessive. ADBE recorded a bearish engulfing candle at all-time highs on 11/22, and INTU, the number 5 holding reversed hard on 11/19 at the same 700 number. An area of long interest could be a gap fill toward 637 from the 11/18 session.