$Microsoft(MSFT.US) Microsoft actually broke through last night, but unfortunately ServiceNow's earnings report brought a major bomb to the entire software sector. IGV was dragged down, and as the largest constituent stock of IGV, it's hard for Microsoft to stay unaffected. But I don't think it's time to panic yet.

Right now, the whole sector is still looking at Oracle. Honestly, as long as Oracle's upward momentum is good, it will drive passive buying of the entire ETF, which will then continue to push Microsoft higher in a prolonged rally.

Actually, Microsoft's stock is a low-volatility stock that moves very slowly. I call it the 'old man stock'. I'd consider placing a bit more around 410-415.