The Most Epic All-Time High Hasn’t Even Happened Yet
On March 10, 2000, at the peak of the infamous Dot Com Bubble, the Nasdaq Composite Index hit an all-time high 5,132.52. That moment has become enshrined in our market’s history.
Financial historians often refer to it as one of the biggest bubbles in modern times. It has been compared to the Dutch Tulip Bubble of 1637 and even the South Sea Trading Bubble. But, perhaps what is even more fascinating, is that the Nasdaq has never once come close to making new all-time highs since that moment.
The Nasdaq is up about 10% year-to-date. It is leading the other major indexes including the S&P 500, Dow Jones Industrial Average, and Russell 2000. However, while all of the other major indexes have hit new all-time highs over the last year or so, the Nasdaq Composite is still more than 500 points away from its high.
It is time everyone started watching the Nasdaq on a daily basis. One of the greatest retracements in market history could be in order.