Nasdaq-100 Hits 60-Day Moving Average Streak Amid Top Stocks Rally

The Nasdaq 100 has reached a 60-session streak without closing below its 20-day moving average, its second-longest streak since 1985. Top stocks driving the rally include Palantir and Netflix. The Nasdaq 100 has seen significant growth, with the longest streak occurring in early 1999 during the tech bubble.

The Nasdaq 100 (NDX) has reached a 60-session streak without closing below its 20-day moving average, marking its second-longest streak since 1985 [1]. This milestone comes as the index has seen significant growth, with the longest streak occurring in early 1999 during the tech bubble. The sustained strength in the tech-heavy index has been fueled by top-performing stocks such as Palantir Technologies (PLTR) and Netflix (NFLX).

The Nasdaq 100's current streak is the second-longest in its history, with the longest run occurring in early 1999 during the dot-com boom [2]. BTIG's Jonathan Krinsky noted the milestone, saying, "Party Like it's 1999. As we discussed last week, the Nasdaq 100 has now gone 60 trading days without closing below its 20 DMA, the second-longest streak in its history (back to 1985). The longest was ended in early 1999."

The Invesco QQQ Trust Series I (QQQ), an ETF that tracks the Nasdaq-100, has also surged, with a 17% gain since the start of June and a 10% year-to-date increase [2]. This resilience highlights investor confidence in large-cap growth and technology names, despite broader market conditions remaining mixed.

The top 10 best-performing Nasdaq-100 stocks of 2025 include Palantir Technologies (PLTR) with a 102% year-to-date (YTD) gain, Zscaler (ZS) at 59.7% YTD, KLA Corp (KLAC) at 49.8% YTD, and Netflix (NFLX) with a 37.3% YTD increase [2].

Technical analysts use moving averages as a gauge of an index or asset's trend over a given period. The Nasdaq-100 includes shares of the 100 largest nonfinancial companies listed on the Nasdaq, which generally have a strong history of profitability. This separates stocks in the index from shares of more speculative names that have boomed this year.

The Nasdaq's latest run of success is one more sign that the U.S. stock market's recovery from the April tariff tantrum is starting to look a bit overdone, according to Krinsky. The index's gains during the 1999 runup were far larger than what investors have seen this time around, with the index rising by more than 50% during that period compared to the current 23% gain [1].

The Nasdaq 100's performance raises questions about how closely investors are paying attention to fundamentals like the outlook for profits and sales growth. While the index has seen significant growth, the current streak could indicate that the market is overdue for some turbulence.

References:
[1] https://www.morningstar.com/news/marketwatch/2025072189/the-nasdaq-is-partying-like-its-1999-why-that-might-signal-a-stock-market-selloff-ahead
[2] https://seekingalpha.com/news/4469490-from-palantir-to-netflix-top-10-stocks-fueling-the-nasdaq-100s-rally-in-2025