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2013 was a great year for the NDX 100, as it outperformed the S&P 500 by a few percentage points. Apple after falling hard in the first half of 2013, had a strong rally the second half of the year.
What do these two tech leaders have in common despite quality performance the second half of 2013? Both are facing key Fibonacci levels. The NDX 100 is facing the 161% Fibonacci extension level and Apple is facing the 61% Fib retracement level of its large decline of early 2013.
From a short-term perspective, Apple bears watching the most due to the rising wedge support break that is taking place at this time, highlighted by the blue circle!
Joe Friday…Would be a positive for the NDX 100 & Apple if they can break above these key Fibonacci levels!