Technical Review of the S&P 100 Index (OEX)

S&P 100 Index (OEX) OEX has recorded new all-time highs above the prior Feb 2020 high of 1,522.26. This breakout suggests the next rally to 1,610-1,620 (extension of the 2-year broadening pattern). Key initial support is 1,522.26 (Aug 2020 breakout), and below this to 1,505.5-1,514.5 (8/4/20 gap-up breakout), 1,450-1,461 (mid-Jul 2020 lows and 50-day ma), and then to 1,361-1,387 (Jun 2020 lows and 200-day ma).

As of 8/10/20, the top 10 constituents of OEX are AAPL, AMZN, MSFT, GOOGL, GOOG, FB, BRK.B, V, JNJ, and WMT. The sector breakdown by market-cap are: Information Technology (32.24%), Communication Services (14.72%),Healthcare (13.55%), Consumer Discretionary (12.42%), Financials (8.61%), Consumer Staples (7.75%), Industrials (5.18%), Energy (2.46%), Utilities (1.62%), Real Estate (0.72%), and Materials (0.39%).

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