The Nasdaq 100 Just Hit A New 14-Year High: StockTwits

 

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.

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On 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.



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This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

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