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.

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.

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.

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