Update: The NASDAQ closed at 5,008.10, up 0.9 percent on the day. That the index closed over the 5,000 mark is even more interesting that it managed to break the level during intraday trading.
The NASDAQ Composite index, a barometer of sorts of the technology industry, traded north of the 5,000 mark today. It was the first time the Composite had traded at that level since the late 90s technology bubble.
The 5,000 mark could nearly be called bad luck. After the NASDAQ crested the level in spring of 2000, the index fell quickly and massively. By the end of the year 2000, the NASDAQ had fallen by more than half. It would halve again before the end, trading in the 1,100s before recovering.
I present you two charts of the same substance, viewed from very different temporal perspectives. Here is the current three-day chart of the NASDAQ, with a certain…
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