Technical Review of NDX 100 Index

NASDAQ 100 Index (NDX) – NDX is one of the more popular stock market indexes that is comprised of 102 stocks. This modified market capitalization-weighted index is compiled using 100 of the largest non-financial companies on the NASDAQ Composite Index (COMPQ). NDX is heavily skewed toward Technology, Consumer Services, and Health Care sectors. As of 9/10/21, the top 10 constituents of NDX are AAPL (11.16% market-cap weight), MSFT (9.99), AMZN (7.85), GOOG (4.12), FB (4.07), TSLA (3.94), NVDA (3.83), GOOGL (3.89), PYPL (2.28), and ADBE (2.15).

Nasdaq 100 Index (NDX) continues with its 1-plus year uptrend channel between 14,315 and 15,931. Above 15,931 confirms an accelerated channel breakout and suggests +1,616 or an NDX target at 17,547. Initial support rises to 15,096 or the 50-day ma. Below the bottom of the channel at 14,315 warns of breakdown and suggests a retest of the 200-day ma at 13,756.

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