Massive rotation out of tech delivers a new all time high for the Dow Jones this afternoon

Ahead of the US opening today we noted how the seemingly unjustified price rise from Apple had dented the Nasdaq 100 futures. Well, the index did still open higher this afternoon and markedly so too. It kicked off at 29,843, following a close yesterday at 29,220. Well, as shares in Apple slumped by more than 5%, the Nasdaq 100 reversed and took out the close seen yesterday and then fell as low as 29,000. That was quite some turn around and it has come as the Dow Jones ignores all of that and charges to levels not seen before. 

The Dow Jones has set a new all time high this afternoon, at 52,448 and that comes as the Nasdaq 100 remains well below its opening levels but has rebounded from the earlier low. The Dow Jones is currently trading at 52,420