TALKING TECHNICALS: Nasdaq 100 bullish, but …
As equity markets fret over global economy, lower highs could signal end of run
The Nasdaq is the world’s second-largest stock exchange, behind the New York Stock Exchange (NYSE), with a market capitalisation of more than $10-trillion. It is basically an alternative exchange to the NYSE and home to several well-known global companies. Among the heavyweight stocks on the Nasdaq 100 are several tech stocks, which is why people often think of it as a tech index. There are "nontech" stocks on the index, including PepsiCo, Kraft-Heinz and American Airlines, but the vast majority are new-age companies, and many of those are tech stocks. Facebook, Apple, Amazon, Netflix and Google all appear as heavyweight components on the Nasdaq 100. In other words, the index has mostly growth stocks, and it is not surprising that it has outperformed the S&P 500 by some margin during the bull market of the past nine years. The upward trend on the Nasdaq 100 remains intact. The 200-day moving average retains its upward trajectory and has provided support to the index several times th...
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