(PRO Views are exclusive to PRO subscribers, giving them insight on the news of the day direct from a real investing pro. See the full discussion above.) As earnings take center stage this week — with around one-third of the S & P 500 on the docket to report — NYSE insider Jay Woods is paying special attention to Microsoft . The “Magnificent Seven” titan will report its latest earnings on Wednesday afternoon, with Woods noting the stock has been in “limbo” between its 50-and 200-day moving averages. “Watch the 50-day moving average for support. Around 420; around 400 and then resistance. We’ve got 440 and 460 at the 200-day moving average. So Microsoft, if that can get back on track, maybe the worst is over for these software names,” said Woods, chief market strategist at Freedom Capital Markets. Software stocks have been a roller coaster this year. The iShares Expanded Tech-Software Sector ETF (IGV) is down more than 19% this year. However, it has rallied more than 11% over the past month. (Watch full video above.) Woods, a veteran trader, also touches on in the video: Key levels to watch for Meta and Visa , respectively reporting earnings on Wednesday and Tuesday. Why this week’s Federal Reserve meeting is all “about Jerome Powell’s legacy.” Woods expects a “hawkish pause” followed by a handoff to Kevin Warsh. Why he’s still watching the Middle East conflict, which remains a key concern as oil prices stay higher for longer. (This weekly Monday video is exclusively for CNBC PRO subscribers.)
