NEW YORK (TheStreet) -- The Powershares Trust (QQQ) is the largest and most followed Nasdaq 100 exchange-traded fund. On Tuesday, it did something it has not done in over 14 years --it climbed as high as $100.10 per share. The last time the ETF traded that high it was the year 2000 and the Dot-Com Bubble was bursting.
It has been a remarkable turn of events for the major tech index. It is up 14% for the year to date and it is leading the other major indexes. That includes the Russell 2000, S&P 500 and Dow Jones Industrial Average.
Read More: Warren Buffett's Top 10 Dividend StocksOn StockTwits, the trader @harmongreg shared a technical chart highlighting the new highs. We posted it below. The Nasdaq 100 ETF is currently trading above its 20-, 50-, 100- and 200-day moving averages. In short, the trend has been upward all year for the tech ETF. Now, only two questions remain: How much higher can the Nasdaq 100 go? And is it as overvalued as it was in 2000? Let us know what you think in the comments below.
If you enjoyed this post you can follow the author on Twitter and StockTwits. This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV