Will NASDAQ Hold 200 Day Simple Moving Average?

Apple (AAPL) and Baidu.com (BIDU) were added to the index today. Two top glamour names nearing the end of sound price consolidations. Fundamentally, it is difficult to find stronger companies. I added each to the index on pullbacks. Both need to break out on strong volume if they are to move significantly higher. I used the pullbacks in each of their charts as entries because of the following action from the NASDAQ.


The NASDAQ is the first major index to reclaim it's 200 day simple moving average (SMA). It now appears to be finding support at this level. Along with being excellent stocks, both AAPL and BIDU shares are highly correlated with the NASDAQ. If the NASDAQ can hold it's 200 day SMA, AAPL and BIDU will likely move much higher.