BTIG警告纳斯达克100指数扩张过度

BTIG on Friday cautioned that the tech-focused Nasdaq 100 (NDX) index was overextended, a day after highlighting overbought signals in the hugely popular Invesco QQQ Trust Series 1 (NASDAQ:QQQ).

BTIG said that the Nasdaq 100 (NDX) had now gone 375 trading days without a -2.5% daily decline, the longest such streak on record since the NDX began trading in 1985.

The investment institution went on to add that there had only been three prior streaks of at least 350 trading days (April '14, January '06, July '86).

“The 2014 streak ended with a -2.7% day, a few days of chop, then a -3.13% day, and that was pretty much it for the pullback,” BTIG noted.

“Jan. 2006 ended with a -3.09% day, but that correction would continue for about six months and see a -16% drawdown.”

“July ‘86 ended with a -4.18% day, followed immediately by a -2.77% day, and\ultimately would see an 18% decline over the next two months.”

On Thursday, the investment institution had said that the QQQ - with its $290.99B in AUM - was trading well into overbought conditions when looking at the Relative Strength Index technical indicator.

On another note, the NDX currently hovers 7.3% above its 50-day moving average, which typically acts as a level from which it pulls back or consolidates.

For traders and investors that are tracking the Nasdaq 100 (NDX), see a grouping of ETFs that track the index for further reference: (QQQ), (QQQM), (QQQE), (USNQX), (NASDAQ:TQQQ), (NASDAQ:SQQQ), (QLD), and (PSQ).

More on Markets

• Dividend Roundup: Mastercard, U.S. Bancorp, FedEx, Humana, and more
• UBS says the current market conditions and the late 1990s have many differences
• Wolfe Research outlines five downside risks as it believes choppier markets are ahead
• Citi spotlights opportunities in Utilities as power grid demand increases
• Top 10 Info Tech stocks according to SA Quant Ratings