The Nasdaq 100 is showing relative strength against other indices and corrected 3.8% from peak to trough after a dip in early August. While the S&P fell around 4%, the Dow fell about 5% and Russell fell by just over 8%.
Apple is 13.2% of the index and Microsoft just over 8% of the index so the index is reliant on these two tech giants.
Watch my Saxo TV stint here:
https://www.tradingfloor.com/posts/berger-nasdaq-100-showing-strength-1372984
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