Last week I mentioned to watch the NDX 100 and see if it could pull a “Houdini Act” and break from a multi-month sideways channel. (see post here)
The new weekly closing high wasn’t buy an huge margin for sure, yet last week the NDX 100 not only closed at a “weekly high for 2011” it also closed at the highest weekly closing high since 2/2001!
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As I shared last week, I would want to be an owner of a breakout in the NDX 100!
With Apple breaking (Apple new set of legs) its February highs at $360, the odds are better than 50/50 that the NDX will move higher from here. Watch for the sweet sounds of a NDX breakout!
