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The NDX 100 represents 100 stocks. The Nasdaq Composite Index represents over 3,000 stocks. What do they have in common right now? Both are at their 50% retracement levels, for the second time and Apple is the largest cap weighted stock in each index.
Apple is trading at all-time highs. Will a further rally in Apple, pull these two leading tech index’s past this important Fibonacci retracement level?
Regardless of Apple’s next big price move, should the NDX 100 and Nasdaq Comp index break resistance, it would be a very good sign for the tech sector and investors would want to follow a breakout!
