According to Reuters, Microsoft’s Chief Executive Officer, Satya Nadella, and other Microsoft executives used the words “caution” and “cautious” at least six times during yesterday’s call.

The stock, already locked into a falling channel from last November…

…reversed its initial pop and is leading the broader indices lower this morning.  Remember, MSFT is the second largest component of the S&P 500.  Futures are off over 1% as we approach the open.

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