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Technical Review of NDX 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 by the Technology, Consumer Services, and Health Care sectors. Since 2007, NDX has outperformed many key US indexes including the S&P 500 Index as it is comprised of the largest growth stocks. As of 2/12/21, the top 10 constituents of NDX are AAPL (12.14% market-cap weight), MSFT (9.49), AMZN (8.71), TSLA (5.04%), FB (3.36), GOOG (3.28), GOOGL (2.97), NVDA (2.65), PYPL (2.26), and NFLX (1.94).

NASDAQ 100 Index (NDX) continues with its Nov 2020 uptrend channel. The bottom of the channel is 13,100-13,200 (near-term support) and the top of the channel is 13,850-13,950 (near-term resistance). A breakout above 13,850-13,950 suggests 850 points or an NDX target of 14,700-14,800. On the other hand, violation of 13,100-13,200, coupled with a break of the 50-day ma at 12,980 warns of the next correction to 12,250-12,350.

To view the entire report go to the Reports tab on the website or click the following:

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