NDX Nasdaq 100 Weekly Chart All-Time Record High

The Nasdaq 100 Index prints all-time record highs driven by the limited number of large-cap FANGMAN stocks. FANGMAN is an acronym for Facebook, Apple, Netflix, Alphabet (Google), Microsoft, Amazon and Nike; FB, AAPL, NFLX, GOOGL, MSFT, AMZN, NKE, respectively. The blue-chip tech stocks, calling Nike a tennis shoe tech stock, are creating the huge record-setting move in the Nasdaq 100. UA is another high-flyer.

A select number of stocks pumping the broad indexes higher is not a healthy sign for the stock market. It is far more preferred to see a broad-based rally which would indicate broad and sustainable strength. As seen in the August waterfall crash, those that live by the sword die by the sword. When these limited high-flyers reverse, the downside in the stock market is just as dramatic as the upside.

FB is over $300 billion in market cap joining AMZN. AAPL is a $675 billion market cap. MSFT $440 billion. GOOGL $260 billion. These stocks support the higher prices in the broad stock market. It is comical. Copper and other vital commodities are falling, in a deflationary funk, shippers are weak, chemical companies, paper companies, all the building blocks of a strong global economy are stagnant and sick while tech stocks and a virtual play world catapult higher. Do you think the world's economy will be sustainable by folks exchanging photos on Facebook and Instagram each bragging and trying to impress one another with their phony and fake lives? This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.