The Nasdaq 100 performed well following the pandemic induced waterfall.
The companies that make up this majority tech index were simply well situated for a historic pandemic.
Add a massive infusion of U.S. dollars to prop up a depressed economy and you’ve got yourself a rally.
So where does this high-flying index stand now?
Today’s chart illustrates how the Nasdaq 100 is currently testing resistance of its long-term trend channel.
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.