With the light volume in trading this holiday week, the techs got a nice boost with strength coming from strong Apple iPhones sales and the announcement that RIMM has been cleared by the Chinese government to sell Blackberries into China. Those items were cited for the gains in AAPL and RIMM today that further ignited the Nasdaq 100.
Looking at the Charts we can see that the NDX has broken above it's channel on the weekly chart.
NDX 5yr / Weekly Chart
Note that this upward channel line has held for over 2 1/2 years
NDX 20 day / 15 min Chart
Notice how we paused awhile today at the 161.8% fib, but then closed above at the end of the day.
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