April 25, 2008 at 11:00 am by Tom Lydon
The exchange traded fund (ETF) that tracks the Nasdaq 100 hit a three-month high in trading yesterday after its 10 most-heavily weighted components moved higher. It doesn’t seem like it’s going to stick if the midday retreat in the markets holds, though.
The PowerShares QQQ (QQQQ) closed Thursday at their highest price since Jan. 14, reports Tomi Kilgore for Thomson Financial.
Apple (AAPL) gave the index a boost after it posted earnings that exceeded expectations at the close of trading on Wednesday. Apple is the index’s most heavily-weighted component, with 10.4% of assets. Qualcomm (QCOM) is the third largest component, with 5.7% of assets. The wireless technologies company also had reported stronger than expected earnings.
For the first time since last year, the Dow Jones industrial average scooched above its trend line, the 200-day moving average. It closed at three-month highs after the dollar strengthened and oil prices fell slightly, reports CNN Money.
The DIAMONDS Trust, Series 1 (DIA) closed at their highest point since Jan. 3.
Tags | Dow Jones Industrial Average, NASDAQ, Technology
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April 25th, 2008 at 11:52 am
You may want to emphasize that you are using the EMA and not the SMA 200 day moving average. There is quite a divergence
April 25th, 2008 at 12:28 pm
Alex,
We’re in the process of putting together a story that explains the two types of averages that will note we’re using the EMA now.
Thanks for your comment!