The NASDAQ 100 is about to break its highest seen in April.
The QQQQ closed at 50.52 on April 23 and in the pre-market today is trying at 50.48.
What’s going on? Well Apple — which is touching $300 now — has been a major contributor. Intel’s good earnings last night also helped, and the fact that big tech like Microsoft and Cisco seem to be getting more shareholder friendly, opening up to dividends, etc. has also fuelled a rally.
Meanwhile, the S&P 500 isn’t that far off its highs. It needs to get a bit more than 30 points.