The major US stock indices are trading near the highs for the day with the NASDAQ index leading the way.
- The NASDAQ index is currently up 177.46 points or 1.13% at 15822.77
- The S&P index is up 28.85 points or 0.61% at 4795.00
- Dow industrial average is up 211 points or 0.59% at 36549
- The Russell 2000 is up 18.9 points or 0.84% at 2264.22
The gains in the NASDAQ are being fueled by Apple which reached the 3 trillion market capitalization level today. The stock has hit a new all-time high price at $182.88.. Wedbush analyst Daniel Ives told investors that he believes Apple sold over 40 million iPhones during the holiday season, a record number despite the chip shortages.
Looking at the hourly chart of the NASDAQ index below, the price is moving toward a topside trendline near 15840. Move above that line, and the highs from last week at 15868. 09 and 15895.20 would be targeted.