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QQQE - The Nasdaq 100 Has Become Entirely Dependent On Nvidia
Direxion NASDAQ-100 Equal Weighted Index Shares
2024-06-06 11:53:57 ET
Summary
Nvidia Corporation stock is responsible for over 40% of the gains in the Nasdaq 100, creating distortions in market indexes and ETFs.
The wide gaps in performance between market cap-weighted indexes and equal-weight indexes highlight the influence of Nvidia on the overall market.
Most stocks in the Nasdaq 100 are underperforming the market cap-weighted index, suggesting that Nvidia's strong performance may be overstating market strength.