Tech TakeoffTech Takeoff
All of the major stock market indexes are advancing higher this morning. The early market rally looks to be very broad based, however, the strongest index is the NASDAQ Composite. The NASDAQ Composite is trading higher by 1.70 percent, this is a substantial move higher compared to the other major stock indexes. The S&P 500 Index is trading higher by 1.00 percent, while the popular Dow Jones Industrial Average is trading higher by just 0.64 percent.
Some of the leading NASDAQ Stocks that are surging higher include Apple Inc.(NASDAQ:AAPL), Google Inc.(NASDAQ:GOOG), Research In Motion LTD.(NASDAQ:RIMM), and Netflix Inc.(NASDAQ:NFLX). When the leading NASDAQ stocks advance or trade higher on the session it is usually a sign of short term strength. The NASDAQ Composite has been very oversold on the daily chart. At this time, the NASDAQ Composite has recaptured its daily chart 200 moving average which is a positive sign for the index.