Of the major U.S. stock market indices, it has been the Nasdaq 100 that has led the current rally.
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.