Nasdaq 100 floats all boats as it closes in on 20k for the first time ever

Further to an earlier update noting the Nasdaq 100 rising to set new record above 19,730, the index has powered ahead even more. In that previous update it was noted that tech was continuing to attract heavy inward flows and now you can see where that has taken the index. The Nasdaq is homing in on the 20,000 level for the first time ever. Now that might be a level which attracts a degree of selling and given the gains already today, it would not come as a surprise if it did. However, the index has not quite gotten there yet. The high seen so far has been set at 19,977. This further meteoric rise is pushing the index into overbought territory, but these days, with demand so strong that might now count for too much. The fresh records in the Nasdaq 100 have helped to float all boats too, in what is now a definitive risk on mode. That means the S+P 500 is setting records this afternoon, above 5,480 and that has helped to push the Dow Jones and even the European futures higher. The Nasdaq 100 is just backing off a bit now though, currently trading at 19,942