Historic Milestone
Record for the NASDAQ 100 Index! We crossed 30,000 points intraday for the first time ever, climbing as high as 30,099 points. What a rally. The index is up +19% YTD and +40% over the past 12 months alone. Tech continues to dominate the stock market, and that trend has been in place for many years now. Everyone invested: congratulations!
Although the chart looks like a massive spike upward on a multi-year scale, it’s important to acknowledge that this doubling actually took longer than the previous one. The $NDX first closed above 7,500 points on May 3, 2018, and above 15,000 points on July 23, 2021. So it took a little more than three years to double from 7,500 to 15,000 points. This time, it took almost five years to double again from 15,000 to 30,000.
My guess is that it will take another 8–10 years to double from here to 60,000 points. What do you think?
