Mister “Soft”ee: 

Could the nickname for one of the largest companies on Earth in MSFT (which is quickly closing in on potentially becoming the largest if the AAPL retreat continues) be telling us something about the future of the stock PRICE? The next few sessions will tell us about the character of the stock if it can run higher from the double bottom pivot on the chart below. Remember the lifeblood of any rally starts with a good amount of names breaking out of sound bases and then continuing to act well POST the move. Right now Microsft is right at its double-bottom pivot and it could go a long way for not only helping software, but technology as a whole (that is a big IF at the moment). If we peek at other top 10 holdings, we will talk about the very round 500 number later in this note with ADBE and INTU, but the top 10 holding ROP is having issues there as well. It reversed there after an initial earnings reaction pop. SNPS turned tail there too earlier this month and NOW looks poised to visit the area. What is it with the very round 500 number and top 10 holdings in the IGV?

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