The NDX briefly sank below 2750 yesterday (a level at which we have pointed to technical support in the past), before reversing to finish substantially higher at 2772.03.
That said, related “long” leveraged Tech ETFs, TQQQ (ProShares UltraPro QQQ), QLD (ProShares Ultra QQQ), ROM (ProShares Ultra Technology), and TECL (Direxion Technology Bull 3X) could see heavier than typical activity in the next week, especially if AAPL and the rest of the sector continues to rally higher.
Other ETFs that will likely be in focus include Technology specific ETFs, whereas QQQ and related ETFs are “broad based” Nasdaq ETFs. Thus, XLK (SPDR Technology), VGT (Vanguard Technology), IYW (iShares DJ U.S. Technology), FXL (First Trust Technology AlphaDEX), QTEC (First Trust Nasdaq 100 Technology Sector), RYT (Guggenheim S&P 500 Equal Weight Technology) will also be in focus in coming weeks given the repercussions, positive or negative, of the recent developments in AAPL and related Tech names.
PowerShares QQQ
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