The NDX 100 is flat over the past 6 months, lagging the S&P 500 by a substantial margin, reflected in the chart below.
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Will the “Third Time Be a Charm” for the NDX 100?
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Over the past year, the NDX 100 has made “Three Attempts” to break its 50% Fibonacci level of the 2000-2003 tech crash. At the same time the NDX 100 finds itself at the top of a 10-year rising channel and near the end of a flag pattern. These long-term key lines in the sand are all coming into play right now with the “Hulbert Stock Sentiment” indicator at levels that has seen the broad market take small pauses in the uptrend over the past couple of years.
The tech sector/NDX 100 has lagged the broad market for the past 6 months. Will the NDX 100 bring some luck to the broad market and break the 50% Fib level, that has been in place for the past 10 years?
How the NDX 100 deals with this key line will have much to do with how Apple deals with this 30-year line in the sand! (see Apple 30-year parallel support here)
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