The inflation-adjusted Nasdaq 100 had been trading within the confines of an upward sloping, long-term trend channel — since 2009.
So where does this high-flying index stand now?
Today’s chart illustrates how the Nasdaq 100 recently broke below and then retested long-term support.
That retest failed and now the inflation-adjusted Nasdaq 100 is working its way lower.
What is the Nasdaq 100?
The Nasdaq 100 is a basket of the 100 largest market cap, non-financial stocks listed on the Nasdaq stock exchange.
When was the Nasdaq 100 initiated?
The Nasdaq 100 was initiated on January 31, 1985 at a base value of 125.
How is the Nasdaq 100 calculated?
The Nasdaq 100 is a modified market-capitalization weighted index.
What are the main sectors included in Nasdaq 100?
Over three quarters of Nasdaq 100 weighting comes from two sectors — technology and consumer services. The remainder of the index is made up of health care, consumer goods, industrial, and telecommunication companies.