S&P 100 Index (OEX) – Although OEX is not as popular as the S&P 500 Index (SPX) or the Dow Jones Industrial Average (INDU), it is a key US large-cap benchmark index consisting of the 100 largest stocks in the U.S. by market capitalization. The key criteria for this index are the stocks in the index must have options available for trading and at least 50% of the stock must be available for trading by the investment public. As of 11/20/20, the top 10 constituents of OEX are AAPL, MSFT, AMZN, GOOG, GOOGL, FB, BRK.B, V, WMT, and JNJ. The sector breakdown by market-cap are: Information Technology (32%), Communication Services (15.2%), Healthcare (13.3%), Consumer Discretionary (12.9%), Financials (8.5%), Consumer Staples (7.9%), Industrials (5.4%), Energy (2%), Utilities (1.7%), Real Estate (0.7%), and Materials (0.4%).
S&P 100 Index (OEX) has recorded new all-time highs surpassing the prior Feb 2020 high of 1,522.26 and confirming a V-pattern breakout. The breakout suggests 506.63 points or a target of 2,029. However, the OEX rally has stalled at 1,678.91 (9/2/20) or near the top of the 2-year broadening pattern. The trading range is developing between 1,488-1,491 (Sep and Oct 2020 lows) and 1,671-1,679 (Sep and Nov 2020 highs).
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