With Apple (Nasdaq: AAPL) going gangbusters and lifting many other tech firms with it, the S&P Global Technology Index Fund (NYSE: IXN) may be a great idea.

IXN’s assets are weighted toward large-cap global tech companies. Other top holdings include Microsoft (Nasdaq: MSFT), IBM (NYSE: IBM) and Google (Nasdaq: GOOG). The fund is also comprised of big-name international computer hardware, software, semiconductors, Internet and IT service firms. The holdings in this exchange-traded fund (ETF) collectively have a market cap of $2.9 trillion (as of December 31, 2009).

There are other large-cap technology ETFs that seek to replicate the performance of the information technology sector, but IXN is unusual because of its strong international focus. Of the 118 companies currently in IXN’s portfolio, 25% are located abroad, primarily in Japan, Taiwan and South Korea. This international diversification means the ETF would be less affected then a purely domestic fund if there were a drop in U.S. tech spending.

The ETF has a minimal yield of 0.4%. At 0.48%, the ETF has a slightly lower expense ratio than other high tech funds like the SPDR S&P International Technology (NYSE: IPK) or WisdomTree International Technology (NYSE: DBT).

• From a technical perspective, IXN appears bullish. Since forming a double bottom formation just above $30 between November 2008 and March 2009, the fund has gained nearly +100%.
   
• In the last week of March 2010, IXN broke through resistance near $57.50 and completed a bullish ascending triangle that has formed since late December 2009.
   
• IXN is above its rising trendline currently at about $56 as well as the 10- and 30-week moving averages, which are curling upwards.

• The security is also climbing the upper Bollinger band. The next major resistance is the Spring 2008 peak just below $64.
   
• The indicators confirm IXN’s bullish status. MACD has just given a buy signal. The MACD histogram is inching into positive territory.

• RSI has been on a sustained uptrend since November 2008. While RSI appears as if is about to become overbought, it is not there yet.

• Stochastics shows the ETF is overbought; however, strong securities can remain overbought for extended periods of time. Stochastics remains on a buy signal.

With the positive hype around Apple and the tech sector, I want to get my fair share of the “apple” pie. My target is $63.95, just below resistance. I would consider setting a stop loss at $56.45, just below support provided by the major trendline.

To get an even bigger piece of the tech pie, check out my favorite individual tech pick in this week’s issue of Double-Digit Trading. There you’ll find a detailed fundamental and technical analysis of a stock in the IXN fund which may be poised for more than +20% gains.