Oracle (ORCL: chart, web, Y!) posted disappointing quarterly software sales today and hinted that its customers had become more cautious, dispelling the notion that the software sector would be immune to the economic turmoil that has roiled the rest of the tech sector.

As I mentioned last weekend, I suspect Oracles report could serve as a template for future earnings reports to come in the next month for the tech sector. In short, profits may continue to climb, but worries about our economic condition and consumer spending will place a target on revenues and sales. If those numbers don’t meet or exceed the Street’s expectations, look out!

It will be interesting to see how Oracle trades tomorrow. I suspect that shares will fall like a home-sick anvil at the market open, but will rebound a bit towards mid-day, and still close down, but up moderately from the days lows.

I can’t say that I’d buy tech right now, but I’d keep some money at the ready to pick up some shares of solid industry players over the next couple months.

What do you think? Does Oracle serve as a sector indicator? 

Investing earnings, ORCL, tech sector