An exchange traded fund tracking the Nasdaq-100 has broken above its 200-day simple moving average while ETFs indexed to the Dow and S&P 500 are still languishing below this key technical level.
The Nasdaq ETF advanced 0.7% on Tuesday.
Apple is a key driver and a large component of QQQ, making up 14.4% of the ETF’s total weighting.
Apple shares have also climbed back above their 200-day moving average.
The Nasdaq-100 ETF is up 4.5% over the past month.
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Max Chen contributed to this article.
Disclosure: Tom Lydon’s clients own QQQ and AAPL.