Note from the CEO: Well this article from NASDAQ is a few weeks old BUT since we cover the NASDAQ fintech index (KFTX) I thought we would stick it in here. This is the 100 stock tech index while FintekNews covers the 49 stock fintech index so this is a good market comparison and update.
July to the first part of November has been kind to technology stock in general out pacing the overall market indices. Of course no one can predict any type of future performance but innovation will always be a presence in the global growth picture.
“Something particularly noteworthy happened in July that appears to have been overlooked by much of the market: technology stocks regained their mojo and began to outperform the rest of the market in a serious way. From July 1 to November 7, tech stocks have outpaced the broader market.
The Nasdaq-100 Tech Sector Index (NDXT), which is the technology stocks of the Nasdaq-100 equally weighted, has had significant outperformance over the Nasdaq US Large Cap Index (NQUSL) from July to present.
The recent market leadership is also showing up in Nasdaq’s Dorsey Wright relative strength analysis. The First Trust Focus Five Model lists the ETF tracking the Nasdaq-100 Tech Sector Index as the number one-ranked ETF and the Dynamic Asset Level Investing (DALI) tool analysis of US sectors shows technology as the clear number one ranked sector.”