Technical Review of NDX 100 Index

NASDAQ 100 Index (NDX) retains its uptrend channel between 13,127 and 14,850. A breakout above initial resistance at 14,073.5-14,169 (top of the Feb 2021 channel and the 4/29/21 record high) signals the next NDX rally to 14,850. On the other hand, violation of the bottom of the channel at 13,127, coupled with a breakdown below 12,967 (5/12/21) warns of a retest of 12,613 (200-day ma).

As of 5/28/21, the top 10 constituents of NDX are AAPL (10.70% market-cap weight), MSFT (9.63), AMZN (8.30), FB 4.05), GOOG (4.04), TSLA (3.80), GOOGL (3.63), NVDA (3.14), PYPL (2.37), and CMCSA (2.04).

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